Iran targeted US radar and air defense installations in Kuwait and Bahrain, warning of further attacks after US strikes on Iran. This follows Iran's Revolutionary Guards attacking oil tankers in the Strait of Hormuz and Houthi rebels blockading Saudi ports, escalating regional tensions.
South Korea's Kospi stock market plunged 6% on Monday, driven by escalating Gulf conflict, rising oil prices, and inflation fears. Major tech stocks like SK Hynix and Samsung Electronics saw significant drops, contributing to the market's entry into technical bear territory.
A protracted conflict in the Gulf is jeopardizing billions in remittances vital for families across Asia and Africa. Migrant workers face job insecurity and rising costs, with some depleting savings. Economists predict regional growth slowdowns, highlighting the precarious economic model reliant on foreign labor.
The world faces escalating tensions as UN chief warns of a new Gulf war, US-Iran conflict deepens with Strait of Hormuz closure, and the Ukraine war continues with cross-border attacks. Diplomatic efforts are underway, but significant challenges remain.
The German economy's recovery hinges on the Gulf conflict's outcome, warns the IWH. Tensions and rising energy prices could lead to stagnation in 2026, while easing could bring 0.9% growth. State spending and exports offer some support.
Experts dismiss link between US-Iran conflict and pause in $14bn Taiwan arms package, citing lengthy processing times and US law mandating defensive supplies to Taiwan
Weeks of conflict have worsened Iran's economic pressures, deepening strain on its financial system amid a Gulf standoff. Despite damage to infrastructure, industries and oil exports, analysts say Iran is managing through internal supplies and limited external trade, relying on its 'resistance economy' and gold reserves. While businesses report rising costs and weakening demand, key indicators show partial resilience with stable food availability and no broad withdrawal restrictions.
According to Italian military analyst Gianluca Di Feo, the US has used a third of its weapons stockpiles in the Gulf conflict since February 28, with replenishment taking five to six years. This weakens the US strategically against China while efforts to topple the Iranian government have failed. The analyst suggests Trump seeks a symbolic victory by occupying an island in the Persian Gulf. Over 40 days of war, 3,375 Iranians died in US and Israeli attacks. Ceasefire negotiations have stalled, with Iran rejecting Washington's unilateral extension.
US military intercepted at least three Iranian-flagged tankers in Asian waters near India, Sri Lanka and Malaysia on Wednesday, escalating Washington's maritime pressure campaign eastward. Analysts warn Southeast Asian nations including Malaysia, Indonesia and Singapore face rising risks from more contested sea lanes, including greater surveillance, pressure to enforce sanctions and higher confrontation risk along routes vital to regional trade.
Gold price prediction today: Gold prices are likely to take cues from the US Federal Reserve stance on rate cuts in the near future, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.
The BBC's Emma Simpson explains why fizzy drinks, salad and meat could be affected by the Gulf conflict.
America's allies are grappling with soaring energy costs driven by Washington's Iran offensive, pushing them toward accelerated clean energy adoption — but that transition increasingly relies on Chinese supply chains. China controls 80% of global solar panel production, 90% of rare earths for clean tech, and the majority of lithium and cobalt for batteries. EU officials are divided between protecting domestic industries from Chinese competition and accepting necessary Chinese investment for faster decarbonization. While some countries like Canada and Spain embrace Chinese clean tech, others warn of swapping one dependence for another.
