World News
Global trade growth may slow to 1.9% this year amid West Asia crisis: WTO
WTO economists warn that the ongoing conflict in West Asia could further reduce trade growth if energy prices remain elevated, it said
 "Global trade growth may slow to 1.9% this year amid West Asia crisis: WTO")
HSBC considers 20,000 job cuts as AI drives overhaul of operations
Non-client facing roles in global service centres are among those expected to be most impacted although the assessment is at an early stage
 "HSBC considers 20,000 job cuts as AI drives overhaul of operations")
Modi speaks to Macron, leaders of Qatar, Oman, Jordan on West Asia conflict
The thrust of the conversations, per his social media posts, was to find a way to restore stability to the region and to continue coordination in the pursuit of de-escalation and peace
 "Modi speaks to Macron, leaders of Qatar, Oman, Jordan on West Asia conflict")
Accenture forecasts weak quarterly revenue as clients delay tech projects
Analysts have said AI should sup- port growth over the long term, but weak demand due to cautious client spending is unlikely to fully recover before 2028
 "Accenture forecasts weak quarterly revenue as clients delay tech projects")
Gold falls 2.7% to over 1-month low on strong dollar, hawkish Fed tone
Central banks in the US, Canada and Japan struck hawkish tones this week, wary that rising energy prices could spark a fresh wave of inflation
 "Gold falls 2.7% to over 1-month low on strong dollar, hawkish Fed tone")
Trump says US will not deploy troops to West Asia amid Iran conflict
Trump spoke at the White House during an Oval Office meeting with Japanese Prime Minister Sanae Takaichi
 "Trump says US will not deploy troops to West Asia amid Iran conflict")
Brent crude touches $119 as attacks on Gulf energy spots hit supply
US crude prices surged above $100 a barrel after Politico reported the US will not implement an export ban
 "Brent crude touches $119 as attacks on Gulf energy spots hit supply")
US Fed proposes easing bank capital rules to free funds for lending
The Fed's Board of Governors will vote to formally propose the plan Thursday. The FDIC board is holding a concurrent meeting
 "US Fed proposes easing bank capital rules to free funds for lending")
Iranian missile hits Israeli oil refinery in Haifa, minor damages reported
Energy Minister Eli Cohen said power was briefly disrupted, with electricity restored to most of those who were affected
 "Iranian missile hits Israeli oil refinery in Haifa, minor damages reported")
US, global central banks hold rates, warn of war-led inflation risks
Earlier this week the Reserve Bank of Australia hiked rates to a 10-month high and warned of a "material" risk to inflation from the oil price spike
 "US, global central banks hold rates, warn of war-led inflation risks")
UK, EU leaders say ready to 'contribute' for safe passage through Hormuz
The joint statement reflects growing concern that Iran's retaliatory attacks in response to US-Israeli bombardment threaten to stoke inflation and further disrupt global trade
 "UK, EU leaders say ready to 'contribute' for safe passage through Hormuz")
WTO reforms, e-commerce, investment facilitation to dominate MC14 talks
WTO's MC14 will see discussions on reforms, e-commerce rules, fisheries subsidies and public stockholding, with India expected to push for policy space and clarity
 "WTO reforms, e-commerce, investment facilitation to dominate MC14 talks")
Pentagon seeks $200 billion more to fund ongoing Iran war: Report
Congress is bracing for a new spending request but it is not clear the White House has transmitted the request for consideration. It is unclear the spending request would have support
 "Pentagon seeks $200 billion more to fund ongoing Iran war: Report")
Strike on Iran South Pars gas field coordinated with US: Israeli officials
Trump said in a social media post that Washington "knew nothing about this particular attack" and that Israel would not attack the gas field further unless Iran again attacked Qatar
 "Strike on Iran South Pars gas field coordinated with US: Israeli officials")
Iran strikes took out 17% LNG export capacity for 3-5 yrs: QatarEnergy CEO
Missile strikes damaged key LNG facilities in Qatar, triggering fires and disrupting exports. QatarEnergy says repairs could take up to five years, impacting global gas supplies
 "Iran strikes took out 17% LNG export capacity for 3-5 yrs: QatarEnergy CEO")
ECB holds rates as West Asia conflict clouds growth, inflation outlook
"The war in the Middle East...will have a material impact on near-term inflation through higher energy pricesm," the ECB said
 "ECB holds rates as West Asia conflict clouds growth, inflation outlook")
US may lift sanctions on 140 mn barrels of Iranian oil on the seas: Bessent
The US hasn't been targeting Iran's energy assets in the war, he said. With regard to Kharg Island, a key Iranian export hub, it mounted a "precision strike" against the military assets
 "US may lift sanctions on 140 mn barrels of Iranian oil on the seas: Bessent")
Bank of England holds rates; gilts fall as markets raise hike bets
Sterling remained higher on the day, at around $1.3297 and at around 86.30 pence per euro
 "Bank of England holds rates; gilts fall as markets raise hike bets")
US will launch 'largest strike package yet' against Iran today: Hegseth
The US defence secretary reiterated that only President Donald Trump would decide when the war would end, adding that Iran's naval and missile manufacturing capabilities had been severely eroded
 "US will launch 'largest strike package yet' against Iran today: Hegseth")
Why tiny atomic clocks are key to China's next-gen warfare ambitions
China has built a tiny, highly accurate atomic clock that could boost drones, missiles and satellite navigation, highlighting how precise timing is becoming crucial in modern warfare systems
 "Why tiny atomic clocks are key to China's next-gen warfare ambitions")