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Mamdani's government-run grocery stores will fail 'like every socialist experiment': economist
New York City Mayor Zohran Mamdani announced plans to open the city’s first government-run supermarket in East Harlem next year, a move critics warn could cost taxpayers millions and undercut nearby private grocers.Mamdani vowed during an address celebrating his first 100 days in office Sunday that the city will have five government-run grocery stores by the end of his first term on Jan. 1, 2030, falling in line with promises made during his campaign."I was elected as a Democratic Socialist, and...
ECB's Lagarde on Iran War's Economic Impact, Rates and AI
European Central Bank President Christine Lagarde discusses the impact of the war in Iran and AI on the euro-zone economy with Bloomberg's Francine Lacqua at the IMF’s spring meetings. (Source: Bloomberg)
Zelenskyy announces 'the future is here' after war's first all-robot capture
Ukrainian President Volodymyr Zelenskyy announced Monday that Ukraine had captured a Russian position using an entirely unmanned robot ground force."For the first time in the history of this war, Ukrainian warriors captured an enemy position using exclusively unmanned platforms," he said during a speech to weapons manufacturers on Ukraine's Arms Makers' Day."The future is here, on the battlefield, and Ukraine is creating it," he said in a video posted to X by a Ukrainian journalist.The offensive...
US टैरिफ हुआ कम... भारत ने किया कमाल, IMF ने बढ़ाया ग्रोथ का अनुमान
US IMF
Bessent Warns on Global Imbalance, China Trade Surplus
US Treasury Secretary Scott Bessent said, “the world cannot take a China with a trillion-dollar trade surplus,” as he spoke Tuesday about the “slow motion buildup of trade imbalances” at an Institute of International Finance event. (Source: Bloomberg)
UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut
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Gunvor Founder Törnqvist Got Over $1 Billion Upfront in Buyout
Gunvor Group’s outgoing owner Torbjörn Törnqvist received over $1 billion in upfront payments as part of a hasty sale of his company to its management, according to documents seen by Bloomberg News.
Lagarde Says EU Economy Between ECB Baseline, Adverse Scenarios
European Central Bank President Christine Lagarde says the euro-zone economy has moved away from the central bank's Iran war base case, though not enough to currently warrant leaning toward raising interest rates. She speaks with Bloomberg's Francine Lacqua at the IMF’s spring meetings. (Source: Bloomberg)
IMF lowers 2026 global growth forecast as war threatens oil supply, inflation
Dubai: The International Monetary Fund has lowered its global growth forecast for 2026, warning that the war in the Middle East has disrupted what had been a stronger economic recovery and could cause more serious damage if energy supplies from the Gulf are hit harder.In its latest World Economic Outlook, released at the Spring IMF Meetings, the Fund lowered its forecast for global growth this year to 3.1 per cent, down from its earlier January estimate, and said inflation is now expected to ris...
War is over for Wall Street, while oil drags down bonds and gold
As the conflict in the Middle East edges towards its eighth week, financial markets are starting to diverge. US stocks have wiped out all the losses incurred since the start of the war, but oil prices are still punishingly high, dragging on both government bonds and gold. There are dramatic disparities in emerging markets too. Brazilian markets have surged and China’s have seen healthy inflows, but a number of smaller, energy-dependent economies are struggling. “The US can manage a...
How one cashed-up Aussie state is looking after itself during the fuel crisis
How one cashed-up Aussie state is looking after itself during the fuel crisisWA has bought its own fuel stockpileIt will cost taxpayers $10millionREAD MORE: Uber to hit Aussies with a fuel surchargeBy AARON BUNCH FOR AUSTRALIAN ASSOCIATED PRESS Published: 15:22, 14 April 2026 | Updated: 15:22, 14 April 2026 e-mail View comments
Tax extension filers beware: Payments are still due to the IRS by April 15
Each year, roughly 20 million Americans file for tax extensions, but many may not realize that any taxes owed are still due to the IRS by April 15.While an extension gives taxpayers until October to file, it does not delay their obligation to pay what they owe — and missing the deadline this week can trigger penalties and interest."The federal tax extension and most state extensions that piggyback on that simply give you six months to finalize your paperwork," Mark Steber, chief tax officer at J...
RTA opens Sensory Rooms at Al Satwa and Oud Maitha bus stations
Dubai is known for making accessibility one of its top priorities and in keeping with this, it has introduced the Sensory Rooms project to the Al Satwa and Oud Maitha Bus Stations. These rooms are aimed to make travel time just a bit easier on those with Autism and for People of Determination.The initiative supports RTA’s strategic goals of elevating customer happiness by delivering specialised services for all segments of the community. The approach reinforces its commitment to social responsib...
Market ‘Sugar High’ Will Send Stocks to Record, Wells Fargo Says
The war in Iran may be ongoing, but traders have largely moved on, as a number of bullish catalysts in the coming months are poised to propel the S&P 500 Index to new highs, according to Wells Fargo Securities.
Mideast Conflict Could Still Trigger Market Turmoil, IMF Warns
Conflict in the Middle East could yet trigger the kind of turmoil that markets have so far avoided, the International Monetary Fund warned, adding its voice to a rising chorus of concern about the financial stability impact of the war.
Oil prices artificially kept below ‘psychological limit’ — Dmitriev
Kirill Dmitriev made his comment on the post from Global Markets Investor that oil prices are growing dramatically despite the dip in the futures, highlighting the market strain and the continuing energy crisis
Naqvi calls on businessmen to bring back ‘20-30pc’ of wealth to Pakistan
Interior Minister Mohsin Naqvi on Tuesday called on the business community to bring back “20-30 per cent” of their wealth to Pakistan ahead of the upcoming budget. Speaking at a ceremony at the Federation House in Karachi, he said that the government would facilitate the business community but “at least give this one gesture over the next three months, before the budget and then see what happens”. “It is not tedious. You have to go online and use an app,” he said, adding that Pakistan offered st...
Dates given for UK 'petrol and diesel shortages and price rises'
Dates given for UK 'petrol and diesel shortages and price rises'Professor Nick Butler warns diesel could hit £2+ per litre and says it would be 'perfectly sensible' for ministers to tell workers to stay at home to save fuelCommentsMoneySteven Smith Content Editor14:56, 14 Apr 2026View 3 ImagesThe £2-plus litre has been predicted(Image: Carl Court, Getty Images)The Government ought to promote remote working as a means of addressing energy shortages in the aftermath of the conf...
UK steel exports to EU at risk as bloc doubles tariffs and halves quotas
Decision to reduce duty-free quotas by 47% aimed at curbing Chinese importsThe EU is to go ahead with plans to double tariffs and halve quotas on imports of steel from July, in a move designed to curb Chinese imports but which could damage UK exports to the bloc.The decision by EU lawmakers and member states after late night talks on Monday, will reduce duty-free quotas by 47%. Exact country allocations have yet to be determined. Continue reading...
War-led energy crisis could drag global growth to 2%: IMF
Warled energy crisis could drag global growth to IMF