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China’s CNOOC to boost oil and gas output amid Middle East strife

China National Offshore Oil Corporation (CNOOC), the country’s largest producer of offshore crude oil and natural gas, aims to further boost production this year amid geopolitical tensions and rising oil prices. The plan came after the state-backed company reported an 11.5 per cent drop in net profi...

Putin’s spring offensive in Ukraine has begun. Experts warn Trump has given Russia a window of opportunity

With Russia funding its war effort through financial gains from the close of the Strait of Hormuz, and amping up attacks while Trump’s eye is turned towards the Middle East, experts tell Maira Butt that this is a very delicate moment for Ukraine

H&M warns prolonged Iran war could hit consumers hard

H&M warned on Thursday that ​a prolonged Middle East war could have a “significant impact” on consumer spending, potentially complicating the ‌fashion retailer’s efforts to catch up with rival Zara and discount Chinese brands. Shares in the Swedish group slipped as much as 6.6%...

As oil-shocked world turns to renewables, China will reap the rewards

The Iran war’s oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur. China will be the biggest beneficiary and its exports a...

दुबई के रियल एस्टेट पर खतरा, डेवलपर्स पर भारी पड़ रहा मिडिल ईस्ट का तनाव

Fed Should Do Nothing for This Moment, Goldman’s Robert Kaplan Says

Robert Kaplan, vice chairman at Goldman Sachs, says, “the Fed is wise to be a risk manager here, not a prognosticator,” in response to the war in Iran. Kaplan also discusses the US economy, how the war has impacted financial activity in the Gulf, and what the firm is telling clients at this moment....

India secures 60 days of oil supply amid Hormuz disruption

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption ​in shipments from the Middle East, the oil ministry said in ‌a statement on Thursday. India, the world’s third biggest oil consumer and importer, was buying over 40% of i...

More than 480 TSA officers have quit since the start of the partial government shutdown

Since the start of the partial government shutdown, more than 480 TSA officers have quit their jobs. Meanwhile, the acting TSA administrator said on Wednesday that the situation at airports could get worse and smaller airports may have to close "if we do not have enough officers."

Iran War to Push Global Inflation to 4% This Year in OECD Forecast

The OECD says the conflict in the Middle East is reviving the specter of inflation and now sees the average rate for the Group of 20 this year jumping to 4%. OECD Secretary General Mathias Cormann says there clearly is “quite a significant level of downside risk to our outlook today.” (Source: Bloom...

Britain’s Crown Estate plans new offshore wind leasing round for next year

King Charles III’s Crown Estate, which owns Britain’s seabed, ​said on Thursday it plans to ‌hold a new offshore wind leasing round in the first half of next ​year. The Crown Estate, which comprises ​tracts of land and most of ⁠the country’s seabed, is an ​independently run, commer...

How Japan Can Use the Oil Market to Support the Yen

Japan’s heavy reliance on imported oil means swings in crude prices feed quickly into its currency and trade balance. The government has hinted that it might step into the oil market in an indirect bid to support the weakening yen, as the war in the Middle East drives up energy costs and threatens t...

Michigan cash aid program tailored to new mothers seeks nationwide expansion amid affordability crisis

Detroit distributed around $1 million to more than 1,000 mothers through Rx Kids, a prenatal cash-assistance program that Mayor Mary Sheffield made her first priority.

Germany’s Merz floats EU-China trade deal as capitals soften on Beijing

German Chancellor Friedrich Merz has said he can imagine a trade deal with China in the future, signalling a new softening stance towards Beijing in European capitals. “We have set quite a lot in motion when it comes to trade policy. I can also envisage further agreements, for example, in the longer...

Total Goes on Mideast Oil-Buying Spree, Adding to Market Turmoil

The trading arm of French oil major TotalEnergies SE embarked on one of the biggest-ever buying sprees of Middle Eastern oil this month, helping to send prices soaring in a market already facing a liquidity squeeze because of the war.

Iran allows Bangladesh-bound oil tankers to transit Strait of Hormuz

Move follows Iran’s position that vessels not involved in hostile actions can transit the waterway

Octopus reports sharp rise in solar panel sales since start of Iran war

Firm’s sales up 54% this month and Good Energy reports doubling of interest in solar after latest oil price shockSolar panel sales have risen sharply since the start of the Iran war, according to Octopus Energy, and households are opting for bigger arrays of roof panels.Sales were up 54% so far this...

Warner Bros. Discovery Sets Date for Shareholder Vote on Paramount Skydance Merger

Paramount Skydance will be one step closer to swallowing up Warner Bros. Discovery if WBD shareholders OK the $111 billion deal at a special meeting to vote on the merger next month. Warner Bros. Discovery has set the special meeting for the stockholders vote on the Paramount deal will on April 23,...

Tuk-tuks stall as global oil crisis prices out drivers and passengers

Tuk-tuk drivers across Somalia’s capital are abandoning their livelihoods as soaring fuel prices, driven by disruptions to global oil shipments linked to the Iran conflict, render their businesses unsustainable.

Ferrari resumes Middle East deliveries after war disrupts logistics

Global Oil Products Prices Hit Record Highs - Russia's Novak

MOSCOW (Sputnik) - Global oil products prices are hitting record highs due to the Middle East crisis, including export restrictions in a number of countries, Russian Deputy Prime Minister Alexander Novak said on Thursday.