14 hours ago

Global finance leaders are meeting at the IMF and World Bank spring sessions amid rising concerns over the economic impact of the Middle East conflict. The institutions are expected to lower global growth forecasts and raise inflation estimates, with emerging economies facing the greatest pressure. Growth projections for developing markets have already been revised downward, while inflation is set to rise further under prolonged disruption. The crisis could also increase food insecurity and strain global supply chains. With high debt levels and limited fiscal space, countries may require significant financial support as policymakers focus on stabilising economies and managing inflation risks.Read more

15 hours ago

The United States has announced a blockade on vessels linked to Iran, restricting shipping to and from its ports and potentially removing nearly two million barrels of oil per day from global supply. The move follows failed US-Iran talks and rising tensions in the Strait of Hormuz. While transit for non-Iranian shipments will continue, overall traffic in the region remains severely disrupted. Iran has warned of strong retaliation, raising risks for Gulf infrastructure and shipping routes. The development could impact major importers, including India and China, and adds pressure to global oil markets already facing supply constraints and price volatility.Read more

15 hours ago

Etihad Airways has announced plans to expand its China network by adding five new routes, increasing connectivity between the UAE and key Chinese cities. The airline will operate services to Shanghai, Guangzhou, Chengdu, Hangzhou and Shenzhen, adding 28 weekly flights using Boeing 787-9 aircraft. The expansion aims to strengthen its partnership with China Eastern Airlines and support cargo operations across major trade hubs. Despite ongoing regional disruptions affecting air travel, the move reflects Etihad's focus on long-term growth and international connectivity in key global markets.Read more

16 hours ago

Sales at major European luxury brands have declined sharply in Dubai and Abu Dhabi as the Iran conflict disrupts a key growth market. Retail sales dropped significantly across leading malls, with Dubai witnessing steep declines in both footfall and transactions, while Abu Dhabi saw a more moderate impact. The Middle East, a fast-growing luxury hub, has been affected by weaker consumer sentiment, travel disruptions and regional instability. The slowdown comes as global luxury firms prepare to report earnings, raising concerns over profitability. The situation highlights the sector's sensitivity to geopolitical risks despite the region's importance to global luxury demand.Read more

17 hours ago

At least 30 people were killed in a stampede at Haiti's Laferrire Citadel, a UNESCO World Heritage site, during annual celebrations. The incident occurred near the entrance as large crowds, including many students, gathered at the historic fortress. Heavy rainfall is believed to have worsened the situation, contributing to panic and congestion. Authorities have warned that the death toll may rise as rescue efforts continue. Officials have not yet released details of the victims. The tragedy highlights ongoing safety and infrastructure challenges in Haiti, which has faced multiple crises in recent years, including natural disasters and security concerns.Read more

18 hours ago

UK homebuilder Vistry has appointed Adam Daniels as its new CEO with immediate effect, replacing Greg Fitzgerald, who stepped down after nine years. The leadership change comes as the company faces margin pressure and weak housing demand. Shares fell following the announcement, reflecting investor concerns. Vistry has warned that rising costs, planning delays and subdued demand will impact profitability through 2026. Daniels, a long-time executive, brings extensive industry experience. The company will continue to focus on cash generation, increasing open market sales and reducing inventory, as the broader UK housing sector remains under pressure.Read more

21 hours ago

Business confidence among the UK's largest companies has fallen to its lowest level since the COVID-19 pandemic, according to a Deloitte survey. CFO sentiment dropped sharply as concerns over rising energy prices, inflation and interest rates increased amid the Middle East conflict. Companies are responding by cutting costs, reducing hiring plans and scaling back investments. Inflation expectations have also risen, adding to business uncertainty. The hiring outlook remains weak, with a significant number of firms expecting lower recruitment. The findings reflect growing pressure on UK businesses as they navigate higher costs and an uncertain economic environment.Read more

13 Apr 2026

Cathay Pacific has announced temporary flight cuts due to rising jet fuel costs linked to Middle East tensions. The airline will cancel about 2 per cent of passenger flights between May 16 and June 30, while its low-cost arm HK Express will reduce operations by around 6 per cent from May 11. Services to Dubai and Riyadh will remain suspended during this period. The move comes as fuel prices stay elevated amid global supply concerns. Despite the short-term adjustments, Cathay Pacific plans to resume full operations after June and continue its expansion, supported by strong demand for international travel.Read more

13 Apr 2026

U.S. mortgage rates fell slightly to 6.51% for the 30-year fixed-rate loan, the first decrease since the Iran conflict began, but the shift has not significantly improved conditions for buyers dealing with high costs and expensive homes. Refinancing declined, and purchase applications remain below last year's levels. Rising Treasury yields and increased fuel costs have added to financial pressure. Housing affordability remains a political focus, with the Trump Administration preparing a major policy announcement, building on earlier proposals to limit institutional home purchases and boost mortgage-backed securities purchases to lower borrowing rates.Read more

13 Apr 2026

Blackstone Digital Infrastructure Trust has filed for an initial public offering in the United States, aiming to tap into growing investor interest in data centre real estate driven by artificial intelligence-led demand. The REIT plans to acquire stabilised data centres leased to major global technology firms, including leading hyperscalers. Blackstone, which has deployed around USD 200 billion in digital infrastructure investments since 2018, is positioning the vehicle to target assets valued between USD 250 million and USD 1.5 billion. The listing, proposed on the NYSE under the symbol BXDC, comes as the US data centre market expands rapidly, with total asset value expected to reach USD 1 trillion by 2030.Read more