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Germany to cut fuel taxes amid Iran war energy shock
BERLIN, Germany: Chancellor Friedrich Merz said Monday Germany will slash fuel taxes as households struggle with the energy shock from the Middle East war, while warning the conflict will have long-lasting economic consequences. The announcement came after oil prices surged again following the collapse of US-Iran peace talks and US President Donald Trump’s decision to blockade the Strait of Hormuz. Merz said the war “is the root cause of the problems we face in our own country”...
Private firms providing services to NHS made £1.6bn profit in two years, research finds
Exclusive: MPs say profit-making levels in England are ‘scandalous’ and call for cap on amount private companies can make from NHSPrivate firms providing services to the NHS including healthcare and consultancy have made £1.6bn in profits over the last two years, research reveals.The findings – on the basis of contracts worth £12bn – have prompted claims of “scandalous” profiteering, concern that the health service is being “taken for a ride” and calls for ministers to impose a cap on maximum pr...
Shell CEO Wael Sawan on Oil, Renewables and the Future of Energy
Shell Chief Executive Officer Wael Sawan joins Francine Lacqua to discuss the oil major's controversial strategy around the energy transition, and fostering a culture that shifts from “all-knowing” to “all-learning.” He reflects on navigating volatility in the global energy system, emphasizing disciplined decision-making and focusing on what leaders can influence going forward. (Source: Bloomberg)
What triggered gold’s March fall, and why April looks different
Dubai: Gold’s sharp March decline has caught investors off guard, coming at a time when geopolitical tensions and inflation risks would typically support prices, yet the move was driven less by fundamentals and more by a rapid unwind of leveraged positions across markets. (Check latest UAE gold prices , alongside prices in , , , , , and .)Sign up for our daily business newsletter, Cheques & Balances.According to the World Gold Council’s Gold Market Commentary,...
Oil jumps and Asian markets slide as US readies for Strait of Hormuz blockade
NewsWorldMiddle EastOil jumps and Asian markets slide as US readies for Strait of Hormuz blockadeDonald Trump announced the planned blockade after US-Iran ceasefire talks in Pakistan ended without an agreementYuri Kageyama Monday 13 April 2026 05:42 BSTBookmarkBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":false,"showBookmark":true,"arti...
Pakistan sees trade boost, renewed confidence amid global turmoil
ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Monday highlighted Pakistan’s key reform priorities while participating in a high-level panel discussion at Harvard University titled “Pakistan’s Economic Agenda: Stability, Reform and What Comes Next,” held as part of Pakistan Conference 2026. The minister described the ongoing Middle East conflict as one of the most significant supply shocks the global economy has witnessed in recent years, requiring careful an...
China’s tea-drink shops thirst for profits as price wars dry up prospects
China’s tea-drink market, with estimated annual sales of 370 billion yuan (US$54.2 billion), has become yet another example of involution as brutal price competition threatens to expel thousands of unprofitable small players. The dire scenario represents a rude reminder to those who hope to strike it rich by investing in a fast-growing business in mainland China’s vast consumer market, which abounds with boom-to-bust cycles. “Bubble tea is a dynamic market, and it is never easy to make money...
Oil, Gas Jump As Trump Plans Hormuz Blockade | The Asia Trade 4/13/2026
"Bloomberg: The Asia Trade" brings you everything you need to know to get ahead as the trading day begins in Asia. Bloomberg TV is live from Tokyo and Sydney with Shery Ahn and Haidi Stroud-Watts, getting insight and analysis from newsmakers and industry leaders on the biggest stories shaping global markets. (Source: Bloomberg)
China’s Clean Tech Firms Signal Windfall From Gulf Energy Shock
Chinese clean‑tech manufacturers are beginning to benefit from the supply crunch in the Persian Gulf, as rising oil and natural gas prices and a renewed emphasis on energy security boost demand for batteries and electric vehicles.
Oil prices soar as US Navy to blockade Iranian ports in Strait of Hormuz today
Oil prices soar as US Navy to blockade Iranian ports in Strait of Hormuz todayThe US military says it will block all maritime traffic entering and exiting Iranian ports, starting at 10am ET (2pm GMT) today, sending crude prices surging.NewsCallum Hoare05:32, 13 Apr 2026View ImageBreaking News(Image: Express)Oil prices have rocketed in early market trading after the US announced it would blockade Iranian ports.The US military has confirmed it will halt all maritime traffic entering and leaving I...
Malaysia Detains Two Tankers for Alleged Illegal Diesel Transfer
Malaysia’s maritime authorities detained two tankers and its crew members suspected of conducting an illegal ship-to-ship diesel transfer off Penang, in one of the latest crackdowns on illicit fuel activities in the country’s waters.
Hormuz oil crisis hits China; a family of dentists: 5 weekend reads you missed
We have put together stories from our coverage last weekend to help you stay informed about news across Asia and beyond. If you would like to see more of our reporting, please consider subscribing. 1. ‘Cancelling orders’ in China: Hormuz oil crisis hits transport and manufacturing 2. ‘A big deal’: military drills show Tokyo’s growing focus on deterring China 3. UAE pulls US$3.5 billion from Pakistan after Iran war mediation 4. Why has China mapped out a third new county in Xinjiang on its...
Iran war could plunge 32 million into poverty, says United Nations
‘Development in reverse’ taking place involving rising energy and food costs and weaker economic growthMore than 32 million people worldwide could be plunged into poverty by the economic fallout from the Iran war, with developing countries expected to be hit hardest.In a report issued amid doubts over a fragile ceasefire, the United Nations Development Programme (UNDP) said the world was facing a “triple shock” involving energy, food and weaker economic growth. Continue reading...
Tough Earnings Season Beckons as Iran War Hurts European Growth
MarketsTough Earnings Season Beckons as Iran War Hurts European GrowthFacebookXLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftGift this articleContact us:Provide news feedback or report an errorConfidential tip?Send a tip to our reportersSite feedback:Take our SurveyNew WindowFacebookXLinkedInEmailLinkGiftBy Chloe MeleyApril 13, 2026 at 4:00 AM UTCBookmarkSaveAs an earnings season clouded in geopolitical uncertainty gets underway, growth expectations for European companies might turn out to...
PSX plunges over 4,500 points on US-Iran talks breakdown
The Pakistan Stock Exchange (PSX) plunged on Monday in a subdued trading environment, as heavy selling pressure took a toll on market sentiment. The benchmark KSE-100 Index fell sharply by 5,353.67 points at the outset of trading. Visible fluctuations persisted in the market, with the benchmark KSE-100 Index dropping 4,567.31 points (-2.73%) to 162,624.06 by 10:29am. Despite intra-day volatility, the benchmark index showed signs of recovery as the bourse trimmed some losses to 4,450.97 poi...
Why Money Managers Are 'Looking Through' Iran Conflict
K2 Asset Management's George Boubouras, Managing Director and Head of Research, Investments and Advisory, says that while the Iran conflict and naval blockade are driving sharp volatility, long‑term investors should look through the headlines rather than trade on every twist. He expects continued price and volume shocks to lift inflation and raise recession risks. but sees resilient underlying earnings in developed markets like the US. (Source: Bloomberg)
Oil prices surge above $100 as US Navy to blockade Iran’s ports after peace talks fail
Oil futures were at over $100 per barrel in the wake of President Trump’s announcement that the U.S. military would start blockading ships looking to enter the Strait of Hormuz. Prices of U.S. benchmark West Texas Intermediate crude hovered just above $104 per barrel late Sunday night, with Brent crude oil, the international benchmark, prices…
Today Gold prices in Pakistan — April 13, 2026
KARACHI: Gold prices in Pakistan declined on April 13, 2026, in line with trends in the global bullion market amid ongoing geopolitical developments. According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola decreased by Rs1,600 to Rs495,362, compared to Rs496,962 on the previous trading day. Similarly, the price of 10 grams of 24-karat gold fell by Rs1,371 to Rs424,693 from Rs426,064, while 10 grams of 22-karat gold declined by Rs1,...
Gas supply to power sector may double amid LNG shortfall
• Govt mulls diversion from households, CNG and fertiliser• Minister warns unless additional gas diverted, tariffs may rise sharply or result in massive loadshedding ISLAMABAD: Domestic natural gas supply to the power sector is expected to at least double by the end of the current month to minimise tariff hikes and loadshedding, which have become inevitable following the non-availability of imported liquefied natural gas (LNG) and upcoming hike in summer consumption. Informed sources told Dawn t...
Inpex Boosts Condensate Supply to Australia Amid Fuel Shortages
Japan’s Inpex Corp. will make two additional cargoes of natural gas condensate — used to produce refined fuels such as gasoline — from its Australian liquefied natural gas export project available to domestic refiners, as the country grapples with fuel shortages.