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Despite headwinds from global energy market disruptions triggered by the Iran war, South Asia continues to be the world’s fastest-growing region, with India acting as the principal engine of growth, according to the latest report by the World Bank.
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The U.S. military announced it will begin a blockade of all Iranian ports and coastal areas on Monday, as President Donald Trump sought to pressure Iran in a move that risks driving oil prices even higher and renewing the war. The announcement set the stage for a showdown, as Iran immediately responded with threats on all ports in the Persian Gulf and the Gulf of Oman.
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Oil prices jumped back above $100 a barrel on Monday as the U.S. Navy prepared to block ships to and from Iran via the Strait of Hormuz, a move that could restrict Iranian oil exports, after Washington and Tehran failed to reach a deal to end the war.
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Viktor Orbán’s 16 years in power is over, and the system condemned as an ’’electoral autocracy’’ lies in tatters, defeated by a 45-year-old former party insider who convinced a majority of Hungarians to bring it to an end.
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Oil prices rose back above $100 a barrel as energy markets reopened in Asia on Monday after talks between the US and Iran ended without a new deal and President Donald Trump said he would blockade Iranian ports.
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President Donald Trump told Fox News host Maria Bartiromo that he could “take Iran out in one day,” hours after his vice president emerged from talks in Islamabad without an agreement to end the war with Iran.
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India’s foreign exchange (forex) reserves have reached nearly $700 billion, a significant amount that positions the country as a strong player amid ongoing geopolitical challenges, particularly those arising from the escalating tensions between the United States and Iran.
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Uganda’s army chief Muhoozi Kainerugaba has sparked a diplomatic controversy after demanding $1 billion from Turkey along with what he described as “the most beautiful woman” in the country, while threatening to sever ties if his conditions are not met.
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Iran threatened to attack any US Navy ships that enter the Strait of Hormuz shortly after American vessels moved through the channel for the first time since the war broke out.
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India has allowed exports of basmati and non-basmati rice to some European countries without an otherwise mandatory certificate of inspection by its export inspection agency for six months, a government notification said on Friday.