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IMF lowers Pakistan's economic growth forecast to 3.5%, inflation to 8.4% for next fiscal year
The International Monetary Fund (IMF) on Tuesday lowered Pakistan’s economic growth forecast to 3.5% and increased inflation projection to 8.4% for the next fiscal year due to the Middle East conflict, as it does not see any major adverse impact of the war this year. In its flagship World Economic Outlook (WEO) report, the IMF also cut the global growth forecast for two years, basing its projections on $100 per barrel to $120 per barrel oil prices in adverse and severe war case scenarios....
Fuel costs push Spanish inflation to 21-month high
InternationalFuel costs push Spanish inflation to 21-month highBy AFP -Apr 14, 2026Spanish inflation jumped to a 21-month high of 3.4 percent in March as the Middle East war caused fuel prices to spike, revised data showed on Tuesday. Transport costs increased 5.3 percent year-on-year due to higher prices for fuel and lubricants for personal vehicles, statistics office INE said in a statement, revising upwards a preliminary March inflation estimate of 3.3 percent. Read Also: Spain’s Sanchez call...
Petrol, diesel losses: What oil firms are losing amid Hormuz supply squeeze
India's state-run oil companies are incurring significant losses, estimated at Rs 18 per litre on petrol and Rs 35 on diesel, due to unchanged retail prices amidst volatile global crude oil prices. Despite a government excise duty cut, these firms continue to face mounting financial strain, with potential price hikes anticipated post-state elections.
What to Expect From JPMorgan, Citi After Goldman's Bond-Trading Miss
Bloomberg's Charlie Wells looks ahead to today's reports from JPMorgan Chase & Co. and Citigroup Inc. after Goldman Sachs Group Inc. reported a surprise drop in bond-trading revenue on Monday. (Source: Bloomberg)
Teen buys abandoned storage unit for £330 and ends up making £37k when he sees inside
Teen buys abandoned storage unit for £330 and ends up making £37k when he sees insideMichael Haskell, 17, says his family started taking his storage locker hobby seriously after he discovered a unit previously owned by a disgraced New York art dealerCommentsNewsMichael Moran and Maria Ortega Foreign Content Specialist09:44, 14 Apr 2026View 3 ImagesOne of Michael's biggest finds was a 'lost' Man Ray painting(Image: Facebook)A 17-year-old who was inspired by a Storage Hunters type T...
UAE Dirham to Pakistani Rupee Rate Today – April 14, 2026
BusinessPakistanUAE Dirham to Pakistani Rupee Rate Today – April 14, 2026By Web Desk-Apr 14, 2026Dubai / Karachi, April 14, 2026 – The UAE Dirham (AED) is trading at 76.06 Pakistani Rupees in the open market today, showing only minimal movement from recent levels. The pair continues to hover comfortably within the narrow 76.00–76.50 PKR range that has been the dominant trading zone for the past several months, offering the kind of predictability that Pakistani expatriates and their families have...
Saudi Riyal to Pakistani Rupee Rate Today – April 14, 2026
BusinessPakistanSaudi Riyal to Pakistani Rupee Rate Today – April 14, 2026By Web Desk-Apr 14, 2026KARACHI/DUBAI- April 14, 2026: The Saudi Riyal (SAR) is trading at Rs74.42 against the Pakistani Rupee (PKR) in today’s open market, according to leading currency dealers in Karachi. The selling rate remains around Rs74.99. The pair continues to stay firmly locked in the same exceptionally narrow, low-volatility channel it entered in early January 2026 — now stretching well beyond twelve weeks of re...
IEA slashes oil demand and supply view as Iran war rattles markets: Report
IEA slashes oil demand and supply view as Iran war rattles markets Report
Aluminum Market Faces Two Million Tons Deficit, ING Says
Aluminum jumped to a four-year high in London as US President Donald Trump’s blockade of Iranian ports thr eatened more disruptions to shipments from the Persian Gulf. The supply issues are "here to stay," ING strategist Ewa Manthey tells Bloomberg Television. "Even if the conflict ends tomorrow, bringing that capacity back to the market can take six and up to 12 months," she adds. (Source: Bloomberg)
How much will Iran lose? The cost of Trump’s Hormuz blockade
Following failed talks, the US has imposed a blockade on Iranian ports in the Strait of Hormuz, potentially costing Iran $435 million daily in economic damage, primarily from lost oil and petrochemical exports. This move, aimed at pressuring Iran, could also impact China's energy imports and requires significant US naval commitment to enforce.
HSBC says Iran war is hitting confidence as businesses warn over economic risks
Oil-driven inflation is big challenge to world economy, lifting inflation and depressing growth, says bank’s chairBusiness live – latest updatesHSBC bosses have said the Iran war is already hitting global economic confidence, as a string of business leaders warned over the impact of the conflict.Georges Elhedery, the Lebanon-born chief executive of the bank, told Bloomberg Television at a HSBC conference in Hong Kong: “We’re saddened and concerned with what’s happening in the Middle East, and we...
Hong Kong insurance complaints body records 857 cases last year, up 33% from 2024
Hong Kong’s insurance complaints body recorded a 32.7 per cent jump in new cases last year to 857, with medical and travel insurance accounting for most of the disputes. The Insurance Claims Complaints Panel under the Insurance Complaints Bureau on Tuesday released the numbers for 2025, which showed that last year’s 857 new complaint cases reflected an increase of about a third from 646 recorded in 2024. The figure marked a rise from 616 new cases in 2023, 607 in 2022 and 512 in 2021. “More...
ING Plans SRT Tied to Project Finance, Including for Oil and Gas
ING Groep NV is planning a significant risk transfer on €3.5 billion ($4.1 billion) of loans to projects in sectors including oil, gas and renewable power as the Netherlands’ largest lender steps up its use of such instruments.
DMCC crosses 26,000 firms as tech overtakes commodities in 2025
Dubai: DMCC added more than 2,300 companies in 2025, bringing its total membership to more than 26,000.Sign up for our daily business newsletter, Cheques & Balances.Growth over the past year was driven by rising demand from global markets and the continued expansion of DMCC’s sector-focused ecosystems, with technology emerging as the largest segment within the district.The latest annual results point to a model that is drawing companies across commodities, finance and digital industries into a s...
National Lottery unveils new Powerball game and biggest change to main draw
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IEA: Global crude oil demand set for sharpest quarterly crash since Covid
The International Energy Agency (IEA) says global oil demand is headed for its "steepest" quarterly drop since the Covid shock, with the agency’s outlook pointing to weakening consumption in April and the second quarter as trade tensions and softer economic momentum hit fuel use.An OPEC+ report, meanwhile, revealed that the group’s output fell by 7.9 million barrels per day in March, largely due to the shutdown of the Strait of Hormuz.Investors are now turning their attention to the IEA’s upcomi...
Malaysia races to go green as Iran war squeezes oil supply
Malaysia is doubling down on renewables to secure its energy future, its deputy prime minister has said, as the government scrambles to mitigate the fallout from an escalating energy crisis triggered by the Iran war. Tehran all but shut access to the Strait of Hormuz last month in retaliation for the US and Israel’s attacks, disrupting a key energy chokepoint through which about 25 per cent of global seaborne oil trade and nearly a fifth of global liquefied natural gas exports pass – much of...
Big Nafis changes: Unlimited child support, new salary perks for Emiratis
The Emirati Talent Competitiveness Council (ETCC) has announced sweeping enhancements to the Nafis Program, following its extension through 2040. The reforms introduce expanded financial benefits, broader eligibility, and new mechanisms aimed at strengthening family stability, boosting Emirati workforce participation, and enhancing national talent competitiveness in the private sector.The updates align with the objectives of the Year of Family 2026, reinforcing a policy direction that place...
Mideast war fuels EV surge across Asia as fuel prices spike
Mideast war fuels EV surge across Asia as fuel prices spike
UK hit with big IMF growth downgrade as Iran war fuels inflation
BusinessInternationalUK hit with big IMF growth downgrade as Iran war fuels inflationBy Reuters -Apr 14, 2026UK suffered the sharpest cut to economic growth forecasts for large rich economies by the International Monetary Fund on Tuesday, reflecting the country’s costly exposure to the inflationary impact of the Iran war. As finance minister Rachel Reeves, who was due to arrive in Washington for the Fund’s Spring Meetings, said on Tuesday it was a “folly” for the US to have no clear exit plan...