Shanghai, home to the world's largest container port, has released a five-year plan to enhance its shipping services sector, leveraging AI and automation. The strategy aims to expand value-added industries like financing, insurance, and legal services, intensifying competition with hubs such as Hong Kong, Singapore, and London.
Indian tech startups like Snabbit and Urban Company are digitizing the informal domestic services sector, offering workers better pay, flexible hours, and online bookings, while providing instant services for customers. However, labor advocates raise concerns about job security and potential exploitation in this app-based model.
Apurva Shrivastava, an Indian-origin MIT engineer, co-founded Avoca with Tyson Chen, an AI answering service for home businesses. The company, valued at $1 billion, uses AI voice agents to book appointments and follow up on leads, addressing the critical issue of missed calls for small contractors.
UK services activity contracted in May for the first time since April 2025, with the PMI falling to 49.3 due to rising costs and geopolitical concerns. Businesses raised prices at a near three-year high, while employment also declined.
UK services sector activity hits lowest since Jan 2021, driven by political uncertainty and the Iran war. S&P Global PMI shows contraction, with economists predicting GDP collapse. Job cuts rise as costs soar.
The UK economy grew 0.6% in Q1 2026, exceeding forecasts, despite the war in Iran. Chancellor Rachel Reeves attributes this to the government's economic plan, while experts warn of weaker growth ahead due to energy price shocks and political instability.
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra cost of metals and plasticsBusiness live – latest updatesOil prices fall as Trump hails ‘progress’ on Iran dealAirlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April. Continue reading...
Firms raising prices at fastest rate in three years, driven by soaring energy and wage bills but also extra materials costsBusiness live – latest updatesOil prices fall as Trump hails ‘progress’ on Iran dealAirlines and other companies are increasingly using fuel surcharges to cover soaring costs, a survey has found, in a further sign of Iran war-linked inflation hitting the economy.A poll of companies in the services sector, which includes airlines, found rising fuel prices had contributed to businesses raising prices at the fastest pace in more than three years in April. Continue reading...
Financial Stability Board report reveals tech, healthcare and services sectors as the biggest borrowersThe private credit industry’s role in fuelling the AI boom could backfire, with a sharp correction leading to “sizeable” losses, the Financial Stability Board has warned.A new report into private credit by the global watchdog, which monitors financial authorities including central banks in 24 countries, found that the healthcare, services, and tech sectors have become the biggest borrowers of private credit. Continue reading...
UK consumer confidence has fallen for the third consecutive month to -25 in April, the lowest level since autumn 2023, as the Iran war disrupts supplies and drives up energy prices. The GfK Consumer Confidence Barometer dropped four points—the biggest monthly fall in a year—with perceptions of the UK economy over the last 12 months falling eight points to -51. Some 85% of consumers now expect price increases in the year ahead, the highest since November 2022, while the savings index is the only measure to rise as households build contingency funds.
GfK Tüketici Güven Endeksi Nisan'da 4 puan düşerek -25'e geriledi, son bir yılın en büyük aylık düşüşü. Tüketiciler kişisel finans ve ekonomi için artan kaygılarla 'titriyor', yakıt fiyatları ve Körfez krizi baskıyı artırıyor.
Service providers report sharpest acceleration in service sector cost inflation in 30 years, largely due to higher fuel pricesEconomic output across the eurozone has fallen for first time in 16 months, as the Iran war drove up prices.Data provider S&P Global has reported that the eurozone private sector dipped into contraction in April, pulled down by a contraction in the services sector.“With the ongoing conflict in Iran causing concerns over fuel shortages and spiking prices, the downtick may also be driven by consumers beginning to limit their vehicle usage to necessary journeys.” Continue reading...
UK government borrowing fell in the last financial year, but economists warn that the Iran war will likely drive borrowing higher and slow growth. Multiple UK companies have issued profit warnings, and service sector costs have seen their largest jump in 30 years.
India's economy shows resilience amid Middle East crisis, with household spending largely unaffected by rising energy prices, though consumer confidence is slightly dipping. While manufacturing faces some impact, the services sector remains robust, and overall growth for Q4 FY26 is projected to remain strong, with limited downside risks.
The UN Economic and Social Commission for Asia and the Pacific projects India's economy will grow 6.4% in 2026 and 6.6% in 2027, with India achieving 7.4% growth in 2025. The report highlights strong consumption, rural economy performance, and GST cuts as drivers, while noting a 25% export fall to the US after tariffs. India remains a top FDI destination with $50 billion in greenfield investments.
