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April 13, 2026 10:35 AM

Economic shock of Middle East war to cast shadow over IMF, World Bank meetings

Top finance officials from around the world will convene in Washington this week under the shadow of the war in the Middle East, which has delivered a third major shock to the global economy after the COVID pandemic and Russia's full-scale invasion of Ukraine in 2022. Top International Monetary Fund and World Bank officials last week said they would downgrade their forecasts for global growth and raise their inflation predictions as a result of the war, warning that emerging markets and develop...

April 13, 2026 9:43 AM

Trump says gas prices may remain high through November midterm election

U.S. President Donald Trump said on Sunday that the price of oil and gasoline may remain high through November's midterm elections, a rare acknowledgement of the potential political fallout from his decision to attack Iran six weeks ago. "It could be, or the same, or maybe a little bit higher, but it should be around the same," Trump, who is in Miami for the weekend, told Fox News' "Sunday Morning Futures With Maria Bartiromo" when asked whether the cost of oil and gas would be lower by the fal...

April 13, 2026 9:39 AM

US to blockade Iran after talks fail to yield a deal

The U.S. military said it will begin a blockade of all maritime traffic entering and exiting Iranian ports and coastal areas on Monday after weekend talks failed to reach a deal to end the war with Iran, jeopardizing a fragile two-week ceasefire. The talks in Islamabad, which ran from Saturday into early Sunday, were the first direct U.S.-Iranian meeting in more than a decade and the highest-level discussions since Iran's 1979 Islamic Revolution. The negotiations came days after a ceasefire beg...

April 13, 2026 8:48 AM

Iran blames US ‘maximalism’ as near-final Islamabad MoU collapses

Iran has accused the United States of derailing a potential breakthrough agreement, saying that "maximalism, shifting goalposts, and blockade tactics" prevented what was "inches away" from becoming the proposed "Islamabad MoU", after 21 hours of intense negotiations ended without a deal. In a post on X, Iranian Foreign Minister Abbas Araghchi said Tehran had entered into its highest-level direct engagement with Washington in 47 years with sincerity and intent to help bring an end to the ongoi...

April 10, 2026 10:32 PM

90% cargo backlog cleared at major ports amid Strait of Hormuz disruptions: Sarbananda Sonowal

Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal on Friday said that nearly 90% of cargo backlog at India’s major ports has been cleared following swift government intervention amid disruptions linked to tensions in the Strait of Hormuz. Chairing a high-level review meeting with senior officials and port authorities, the minister said timely monitoring and coordinated action helped restore normal port operations and minimise the impact on trade. “We acted swiftly and in a...

April 10, 2026 9:16 PM

Hormuz shipping remains restricted despite ceasefire, thousands of vessels still stranded

Maritime traffic through the Strait of Hormuz remains restricted despite a two-week ceasefire between Tehran and Washington that began on April 8, with shipping activity still far below normal levels. Industry estimates indicate traffic has dropped by nearly 95 percent compared to pre-crisis levels, with only a limited number of vessels moving under tight Iranian supervision. Most ships currently transiting are Iranian-linked, part of the so-called dark fleet, or flying flags of countries Tehran...

April 10, 2026 7:45 PM

India assures energy stability amid West Asia tensions, steps up fuel supply, maritime safety and citizen support

The Centre on Friday said the country’s energy systems remain stable and resilient despite ongoing geopolitical tensions in West Asia, while outlining a series of measures to ensure uninterrupted fuel supply, safeguard maritime operations, and protect Indian nationals abroad. At an inter-ministerial media briefing held at the National Media Centre, officials from key ministries, including Petroleum and Natural Gas, Power, External Affairs, and Ports, Shipping and Waterways, highlighted India�...

April 9, 2026 10:42 PM

‘We are not some piece of ice’: Greenland hits back at Trump’s Arctic insult

Greenland's Prime Minister Jens-Frederik Nielsen called on NATO allies to stand together to defend international law as he pushed back against U.S. President Donald Trump's latest comments about the Arctic island. Trump vented his frustration with NATO's unwillingness to get involved in the war on Iran that he launched with Israel, saying in a social media post that the military alliance was not around when needed and would not be there "if we need them again. REMEMBER GREENLAND, THAT BIG, POOR...

April 9, 2026 10:37 PM

IMF’s Georgieva expects war to trigger demand for up to $50 bln in Fund support

International Monetary Fund chief Kristalina Georgieva on Thursday said the global lender expected near-term demand for IMF financial support to rise to between $20 billion to $50 billion as a result of spillovers from the war in the Middle East. Georgieva said the now-paused war was testing the global economy, with a 13% cut in the daily flow of the world's oil and a 20% cut in liquefied natural gas triggering a supply shock that had sent energy prices soaring, while disrupting supply chains. ...

April 9, 2026 10:35 PM

NATO’s Rutte told allies Trump wants Hormuz commitments within days, diplomats say

NATO Secretary General Mark Rutte has briefed some capitals that U.S. President Donald Trump wants concrete commitments within the next few days for help securing the Strait of Hormuz, three European diplomats told Reuters on Thursday. Rutte met with Trump in Washington on Wednesday, amid tensions within the alliance over the Iran war. "The Secretary General is in contact with Allies about his discussions in Washington," NATO spokesperson Allison Hart said on Thursday. "It’s clear that the U...