GLOBAL ECONOMY & MARKETS

Global Economy & Markets

Middle East war damage to energy assets may cost up to $58B: estimate
Middle East conflict damage could cost up to $58 billion to repair energy infrastructure, with lasting global ripple effects.
Middle East war damage to energy assets may cost up to $58B: estimate
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Staff Reporter
By Murat Sofuoglu
Citing US-Israel war on Iran, IMF cuts outlook for global growth, expects higher inflation
In "severe scenario" in which energy shocks spill into next year and central banks are forced to raise interest rates to combat inflation, IMF says global growth could drop to 2% in 2026 and 2027.
Citing US-Israel war on Iran, IMF cuts outlook for global growth, expects higher inflation
Iran war to leave lasting economic damage, Germany's Merz warns
The German leader regrets the collapse of Islamabad talks, says Berlin is preparing to deal with a significant economic burden.
Iran war to leave lasting economic damage, Germany's Merz warns
Türkiye’s oil drilling: A strategic inflexion point for Somalia
Long seen as a site of crisis and intervention, Somalia may now be approaching a turning point,one driven not by aid or security, but by energy, investment, and shifting geopolitical interests, with Türkiye’s offshore drilling mission at its centre.
Türkiye’s oil drilling: A strategic inflexion point for Somalia
A distant war, an expensive life: How the conflict with Iran hit American wallets
The war with Iran is increasingly permeating everyday life within the United States itself. Rising gas prices, logistics disruptions, and the entire foreign policy crisis are increasingly felt not in the headlines but at the gas station.
A distant war, an expensive life: How the conflict with Iran hit American wallets
UN chief warns world teeters on brink of wider Middle East war
"When the Strait of Hormuz is strangled, the world’s poorest and most vulnerable cannot breathe," says Antonio Guterres.
UN chief warns world teeters on brink of wider Middle East war