Bloomberg

West Asia crisis to intensify soaring European corporate distress

Even before the US and Israel began their attacks on Iran on Feb. 28, financial strain among the continent's businesses was at a four-year high

India growth forecasts cut, inflation risks rise as Iran war drags on

Economists expect slower growth due to reliance on imported oil, with Goldman cutting its 2026 forecast to 6.5%, while IndusInd warns of a 30-basis-point hit and risks from weak consumption

Pakistan airstrikes on Kabul leave heavy toll, raising risk of escalation

Pakistan said it carried out 'precision airstrikes' on Taliban sites in Kabul and Nangarhar, targeting military depots and infrastructure, and accused the Taliban of making 'false claims'

India needs $1 trn forex reserves buffer for stability: Ex-RBI Deputy Guv

The $1 trillion target is derived from two critical buffers: $350 billion to cover all one-year debt obligations and $650 billion to protect against a potential exodus of foreign portfolio capital

US pushes for permanent ban on ecommerce tariffs despite opposition

The moratorium has divided nations for nearly three decades as economies including Brazil, India and South Africa argued they wanted to preserve domestic policy options rather than rubber-stamp it

Trump's delay of visit to China echoes pattern of last-minute changes

Trump's request to delay a planned trip to China is latest example in a pattern of postponing or calling off high-profile meetings that he decides don't suit his interests

Cuba suffers nationwide blackout after power grid collapse amid fuel crisis

The Ministry of Energy and Mines is investigating the cause, but said that there was no damage to the power plants operating at the time of the failure

Trump asks China to delay summit with Xi by a month due to Iran war

War has overshadowed Trump's other priorities, especially with Iran's move to block the Strait of Hormuz sending the price of oil above $100 a barrel

UAE gas field set ablaze as Iranian strikes squeeze energy supplies

Operations were suspended at the Shah natural gas field in the UAE while officials assessed damage from a fire touched off by a drone attack

UAE reopens airspace after brief closure following drone interception

The brief shutdown came a day after Dubai's main international airport halted flights for several hours after a drone strike triggered a fuel-tank fire

London Metal Exchange halts electronic trading across metals markets

Prices were mixed before the outage, with copper up 0.6 per cent and aluminum down 1.3 per cent

Ozempic patent expiry to trigger boom in weight-loss drugs in India

India is the first major country after Canada where Novo is losing patent on semaglutide and will see an onslaught of generic versions

India sees power demand surge to a record, adding to energy crisis

The war in the West Asia, now in its third week, has roiled energy markets, cutting off flows of crude and liquefied natural gas to the world and driving up prices

EU considers redirecting Red Sea naval mission to protect Strait of Hormuz

The EU operation in question is Aspides, which was launched in 2024 after the Houthis attacked shipping vessels in the Red Sea

Currency bears beware: Asia's central banks step in to stabilise markets

RBI also intervened in onshore and offshore markets, buying ₹1 trillion ($11B) in bonds on March 6 to curb rupee losses

Gulf economies at risk of worst slump since early 1990s on Iran war

Qatar and Kuwait could each see their gross domestic product contract by 14% this year should the conflict continue through April

Bitcoin climbs in Asia as traders grapple with uncertainty in West Asia

Bitcoin has weathered the war with Iran, which broke out at the end of February, better than many traditional assets

Saudi offers Red Sea route for oil buyers as Hormuz crisis persists

Saudis have a 5 million barrel-a-day pipeline that runs across the country to the Red Sea, although export capacity at Yanbu may be smaller than that

US says Iran war-driven oil reserve release will be structured as exchange

Countries around the world are planning releases from strategic oil reserves as the war in West Asia chokes supply and sends fuel prices soaring

Trump leaves allies, adversaries guessing on endgame for Iran war

Trump administration is planning to announce as soon as this week that multiple countries have agreed to form a coalition to escort ships through the corridor