Page 21 - Latest Updates on West Asia Conflict

Luxury watch industry faces fresh headwinds as Iran war dents demand

The bling is back, but the war in the Persian Gulf has tarnished the outlook for the luxury watch industry - the ultimate in bling. Starting Tuesday, Geneva hosts the annual "Watches and Wonders" fair, a premiere gathering in an industry eager for a rebound after two years of market contraction, hopefully including sales in oil-rich Gulf Arab countries. The US and Israeli war against Iran that began February 28, however, has had a sweeping impact on the global economy: Driving up energy prices, stalling shipments of fertiliser, disrupting air travel, among other things. High-end watches have not been spared. Soaring prices for precious metals like gold and silver over the last year and US President Donald Trump's Liberation Day tariffs launched a year ago - while down from peak levels - already affected the market. Now, renewed inflation pressures and doubts about consumer confidence are throwing new uncertainty into the market that generates tens of billions of dollars in revenue

Asian stocks gain, oil prices fall on hopes of renewed US-Iran talks

Asian stocks were trading higher tracking Wall Street gains and oil fell on Tuesday as expectations rose over a possible second round of talks between the US and Iran to end West Asia conflict. Tokyo's Nikkei 225 was up 2.4 per cent to 57,842.72. South Korea's Kospi jumped 3.4 per cent to 6,004.30. Hong Kong's Hang Seng rose 0.4 per cent to 25,759.75, while the Shanghai Composite index climbed 0.6 per cent to 4,010.45. China on Tuesday reported worse-than-expected export growth of 2.5 per cent in March for the first month since the Iran war began. Australia's S&P/ASX 200 gained 0.3 per cent, and Taiwan's Taiex rose 2.2 per cent. Investors are still hopeful for a lasting de-escalation of the Iran war, which is in its seventh week, as the US and Iran are said to be weighing a second round of talks before a temporary ceasefire agreement expires next week. The US military on Monday began a blockade of Iranian ports as Washington steps up its pressure on Tehran, following ceasefire ...

Iran war threatens to push 2.5 mn people in India into poverty: UNDP report

The conflict and military escalation in West Asia threatens to push 2.5 million people in India into poverty and the country is projected to experience some loss in its human development progress, according to estimates and projections by the United Nations. The United Nations Development Programme, in a report titled 'Military Escalation In The Middle East: Human Development Impacts Across Asia And The Pacific' noted that the conflict is "widening human development pressures across Asia and the Pacific. Through higher fuel, freight, and input costs, the shock is diminishing household purchasing power, raising food insecurity, straining public budgets, and weakening livelihoods." The preliminary assessment, issued Tuesday, estimates that globally 8.8 million people are at risk of falling into poverty and the West Asia military escalation could cost Asia-Pacific up to USD 299 billion. In India, poverty is expected to rise from around 400,000 to 2.5 million, the report said. It adde

China export growth slows to 2.5% in March amid Iran war uncertainty

China's exports grew 2.5 per cent in March from a year ago, significantly slowing from the previous two months as uncertainties rose from the Iran war and its impact on energy prices and global demand. The March export data released by China's customs agency Tuesday missed analysts' estimates and was sharply down from the 21.8 per cent export growth recorded for January and February. Imports last month surged 27.8 per cent, up from the 19.8 per cent year-on-year increase in the first two months of this year. Technology-related exports including a jump in shipments of semiconductors from China on the global artificial intelligence boom have powered its robust exports in early 2026, but economists say impacts from the prolonged Iran war could affect overall global demand for Chinese exports this year.

World order 'crumbling into disarray': Xi Jinping as Iran war drags on

China has also criticised the military action against Iran and warned it risks plunging West Asia into deeper instability

Strait of Hormuz blockade impact: 2.3mbpd oil supply at risk, says Nomura

Iran, according to Nomura's estimates, has been the biggest beneficiary since the war broke out in terms oil revenues that rose 36 per cent y-o-y in March 2026 to $5.7 billion

Why Donald Trump's Hormuz blockade is as much about China as Iran

If US enforces the blockade, the Iranian economy will suffer an enormous blow on top of the war destruction and will need to start shuttering oil wells in next few days as its storage tanks fill up

Iran calls US blockade 'gross violation' of sovereignty, urges UN action

Iran's Ambassador to UN Amir Saeid Iravani denounced Washington's move as an 'illegal act of aggression' that threatens regional and international peace and security

West Asia war: Iran offers 5-yr enrichment halt; talks likely on Apr 16

The US and Iran may again hold negotiations on April 16 after Islamabad talks failed; Tehran has offered a 5-year pause on uranium enrichment, shorter than the US's 20-year demand

How the US naval blockade of Iran might work and what it could mean

US military has provided few details on how it might carry out President Trump's orders as he seeks to pressure Tehran on a peace deal; but history and established practices offer some clues

US State Secy Marco Rubio likely to join Israel-Lebanon talks in Washington

The negotiations, set to take place at the United States Department of State, will also include US Ambassador to Lebanon Michel Issa and State Department counsellor Michael Needham

US-Iran war: Hormuz blockade tests which side can endure more pain

US President Trump is trying to choke off the country's lifeline with a blockade of the Strait of Hormuz; but the Iranians are betting that his tolerance for political pain is limited

Trump threatens to 'kill' Iranian warships that get near US blockade

The US military announced it will begin a blockade of all Iranian ports and coastal areas on Monday, tempering US President Donald Trump's previous vow to entirely block the strategic Strait of Hormuz, as early reports indicated that ships had stopped crossing the waterway. However, Trump warned on social media that any Iranian warships that come "anywhere close" to the US blockade will be destroyed. It wasn't clear whether the blockade had started by the designated time of 10 a.m. EDT. The move sets the stage for a showdown as Iran has responded with threats against ports in the Persian Gulf and the Gulf of Oman. The war, now in its seventh week, has killed thousands of people and shaken global markets. Ceasefire talks between the US and Iran over the weekend ended without an agreement, raising questions about what happens when the current two-week truce expires on April 22. Meanwhile, the Israeli military is pushing ahead with its air and ground offensive in southern Lebanon, ...

Trump slams US media outlet for 'false narratives' on Iran, demands apology

Trump alleged that despite media portrayals, Iran had been 'totally obliterated, militarily, and otherwise'

'National resistance' shattered enemy dream of Iran's collapse: Pezeshkian

Pezeshkian asserted that the enemies' objective of destabilising Iran had failed, as the Iranian people demonstrated significant resistance and perseverance

US Navy maintains presence in West Asia, may participate Iran blockade

It remains unclear which specific vessels are positioned or designated for participation in the blockade

Oil slips in early trade as US-Iran dialogue hopes ease supply concerns

Brent futures declined by $1.86, or 1.87 per cent, ​to $97.50, while US West Texas Intermediate (WTI) crude fell $2.25, or 2.27 per cent, to $96.83 by 0003 GMT

Hezbollah won't abide by any agreements from Lebanon-Israel talks in US

The Lebanese militant group Hezbollah will not abide by any agreements that may result from the direct Lebanon-Israel talks in the United States, negotiations it firmly opposes, a senior Hezbollah official said Monday. Wafiq Safa, a high-ranking member of Hezbollah's political council, spoke on the eve of the talks expected in Washington between Lebanese and Israeli ambassadors to the US It will be the first time in decades that envoys from Lebanon and Israel, which do not have diplomatic relations, meet face-to-face in direct talks. "As for the outcomes of this negotiation between Lebanon and the Israeli enemy, we are not interested in or concerned with them at all," Safa told The Associated Press. "We are not bound by what they agree to," he added in a rare interview with international media. He spoke next to a cemetery as an Israeli drone buzzed overhead. Historic negotiations at a sensitive time ----------------------------------------- Lebanese officials are looking to broke

US, Iran mull second meeting in attempt to revive ceasefire talks

US President Donald Trump signalled his own openness to more talks earlier Monday, saying good people from Iran had reached out

'Right people' from Iran reached out: Trump as Hormuz blockade begins

Shortly before addressing reporters, Trump wrote on Truth Social that maritime activity in the strait had surged