Asia / Pacific

President Donald Trump claimed that the U.S. has been meeting with Iran "directly and indirect" and that the new Iranian leaders were "very reasonable". This was as more U.S. troops arrived in the area and Tehran warned they would not accept humiliation. Trump's comments on Sunday come after Pakistan, acting as an intermediary between Tehran, Iran and Washington, announced that it would be hosting "meaningful discussions" in the next few days to end the Iran?war, which has lasted for a month. Trump said to reporters Sunday night as he traveled on Air Force One from New York City to Washington....

Investors' sentiment was affected by the sagging of most Gulf stock markets in early Sunday trading, as concerns about a wider conflict linked to Iran weighed heavily on their minds. This came after Yemen’s Houthis launched the?first? attacks on Israel since the conflict started and the U.S. sent additional forces into the Middle East. The Washington Post reported Saturday that U.S. officials had said that the Pentagon was preparing for a possible multi-week?operation on the ground in Iran. However, it remained unclear whether President Donald Trump would authorize the deployment. The Qatari Index fell by 1.1% as Qatar National Bank,...

The energy minister announced on Friday that Namibia will temporarily lower fuel levies 50% for at least three months, until the end of June. This is to protect consumers from higher prices as the U.S./Israeli war with?Iran continues. Namibia, a southern African nation that is entirely dependent on imported refined petroleum products, has taken this decision to respond to the Middle East Crisis that has stifled around 20% of world oil and LNG exports via the Strait of Hormuz. At a media briefing, Namibian energy minister Modestus Amtse said that the measure was necessary due to the volatility in petroleum...

Valdis Dombrovskis, European Economic Commissar, said that the European Union is at risk of stagflation due to the increase in energy prices caused by 'the U.S. - Israeli 'war on iran. "The outlook is clouded with profound uncertainty. But it's clear that we run the risk of a shock, which is a situation in which a?slower?growth coincides?with a?higher inflation," Dombrovskis said at a?news conference?after a meeting?of EU finance ministers. This is true even if disruptions to energy supply are?relatively brief. Our analysis shows that in such a scenario the EU's growth in 2026 may be around 0.4 points lower than...

The Indian government bond market plunged Friday, ending a week-long loss, as New Delhi’s fuel excise tax?cut clouded fiscal outlook and intensified oil-driven anxieties. This also drove the yield on the 10-year note to its largest weekly increase in almost four years. The benchmark 6.48% bond yield for 2035 ended the session at 6.9419%. This is the highest 10-year bond yield since July 25, 2024. It closed at 6.8750% the previous day. Bond yields are inversely related to bond prices. The yield increased by 20 basis points for the week. This is the largest move since the week ending?May 6,2022...

The rupee is in a tailspin as foreign?investors pull out at record rates from Indian bonds and equities. This is due to the Iran War-driven rise?in oil price, which has sparked a flurry of 'worries about a possible increase?in inflation. Since the beginning of the war on February 28, foreign investors have sold an estimated $12.14 billion in Indian shares, marking the largest monthly outflow ever recorded. The net bond sales of foreign portfolio investors under the Fully Accessible Route, or FAR, reached 152 billion rupees (1.6 billion dollars), the highest amount since the category was first introduced six years...

The 'State Department' reported that U.S. Secretary Marco?Rubio met with Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on a Thursday. He reportedly expressed "gratitude" for the KRG allowing oil from Iraq to reach international markets, including Kurdistan in Iraq. The State Department issued a statement saying that "the secretary expressed his gratitude to Kurdistan Regional Government, for allowing oil from Iraq to reach the global markets, including the 'Iraq Kurdistan Region. The Iran War has risen oil prices and shook global markets. The State Department said Rubio had "offered his sincere condolences to families of those Peshmerga who were...

A Russian official said on Thursday that a drone attack from Ukraine damaged an industrial area near one of Russia's largest?oil refineries. According to reports on Wednesday, at least 40% of Russia's capacity for oil exports has been halted following Ukrainian drone strikes, a disputed assault on a major pipe and the seizure or tankers. According to Alexander Drozdenko, more than 20 drones have been shot down in the northern Leningrad area. "The attack has been repelled in the Kirishi district." Drozdenko told Telegram that there was damage to the industrial area. Drozdenko ?did not specify what part of the...

The markets overshoot and the recent dramatic increase in bets placed on higher interest rates due to the Middle East energy crisis is the latest example: although the move was logical, its magnitude remains questionable. The Iran War shows no signs of stopping and the?markets are still in flux. Rates traders may need to take a break and re-evaluate. The abrupt change in global 'rate outlook' reflects concerns about the short-term impact on inflation of the soaring prices for oil and gas. Federal Reserve now has a higher probability of raising U.S. interest rates in this year rather than cutting...

Confindustria, Italy's leading business lobby, forecast that the economy would grow by 0.5% in this year. This is a reduction from the 0.7% it had predicted in October. It also warned of'strong' 'downside risks' if the Iran conflict continues. The third largest economy in the Eurozone saw its gross domestic product rise by 0.5%, marking the third consecutive year of growth below 1%. Confindustria stated in its bi-annual report that the 0.5% growth scenario for 2026 was based on an "optimistic hypothesis" that?the conflict in Iran would be over by March's end. The business group warned that if the hostilities...

Sources familiar with the situation said that Indian billionaire MukeshAmbani's?Reliance Jio Platforms? has been in talks with?13?marquee investors to sell 8% of their individual stakes at the upcoming Mumbai listing for the company which will be transforming its telecoms into AI. Ambani’s Jio Platforms is expected to file for approval in Mumbai of its IPO as early as this coming week. The list includes Meta with a stake worth 9.99% and Google?with 7.73%. Vista Equity Partners, KKR and KKR are also big investors. Investors include three sovereign Gulf funds: the Public Investment Fund (PIF), Mubadala, and Abu Dhabi Investment Authority....

The Philippines' ambassador to the United States stated that it is working closely with Washington in order to securing waivers and exceptions to allow oil to be purchased from sanctioned U.S. countries. This will 'ensure supply. The Philippines, which is heavily dependent on imported fuels, declared on Tuesday a national energy emergency in order to deal with Middle East War fallout, including oil procurement. In a series of phone messages, Jose Manuel Romualdez said: "We're working with the State Department on getting waivers or exemptions for oil purchases from sanctioned U.S. countries." Romualdez responded that "all options" are being considered...

The South Korean Industry Ministry confirmed the import of 27,000 tons of Russian naphtha arriving on Monday. The ministry refused to confirm the destination of the shipment or if it was for one South Korean company or multiple firms. Local media reported that this is the first time South Korea imports Russian?naphtha after the beginning of the Iran War. Local media reported that the industry ministry is working with the South Korean Foreign Ministry to secure additional supplies of Russian naphtha. Naphtha, a refined oil-based product, is typically used as a feedstock by petrochemical manufacturers and is also a key...

Analysts do not expect a fuel shortage in Ukraine next month. After Russian missile strikes virtually destroyed Ukraine's refining capability, the country became almost completely dependent on fuel imported from Europe, particularly western, central, and southern Europe. Enkorr fuel consultancy in Kyiv said that the average daily diesel deliveries over a 'four-day period from 23 March 'to 26 March 'were 21,400 metric tonnes, up from 19,400 tons during the same time last week. The consultancy stated that if the current pace is maintained, imports in March could reach 565,000 tons. This would be 9% more than the 522,000 ton estimate...

Portugal announced a temporary subsidy of 10 cents per litre for diesel in key sectors like?agriculture and transportation? on Friday to 'ease fuel costs due to the Iran War. The subsidies, which could amount to up to 450 millions euros (519 million dollars) over three month, will only be paid if the diesel prices are more than 10 cents higher than the average price for the first week of March when the war with Iran intensified. The subsidies will run between April 1 and June 30, and they still need parliamentary approval. They will support sectors such as agriculture, forestry...

Robert Golob, Slovenia's prime minister, launched talks on a broad alliance with political party leaders on Friday following an inconclusive election. He pledged urgent measures to assist the Alpine country's?economy cope with rising energy costs. After the March 22 elections, Golob's Freedom Movement has won 29 parliamentary seats. This is one more than the right leaning Slovenian Democratic Party led by populist former premier Janez Jansa. Either party needs coalition partners in order to achieve a majority of 90 seats, which makes smaller parties potential kingmakers. Golob, the incumbent, has invited all the parties that have won parliamentary seats -...

According to representatives of the industry, at least a half of the Dutch fishing fleet stayed in port during this week due to rising diesel prices. The Netherlands is under the most pressure because it has a large number of beam-trawlers, about 7% of all the beam trawlers that are in the European Union. The ships are designed to catch high-value flatfish in the North Sea, such as soles, turbot, and brill. However, they consume a lot of fuel. VisNed, an industry group, said that 80% to 90 percent of these trawlers "didn't sail out" this week. Durk van Tuinen...

In a recent media interview, Prime Minister Ilie Bolojan stated that Romania's broad coalition could decide to lower excise duty?on fuels temporarily next week to combat the economic repercussions of the Iran war. The government approved the first set of measures on Thursday. These include limiting the exports of gasoline and the amount of biofuel that can be added to it for three months, as well as capping the fuel price increase at the average level of last year. After criticism by employers and unions, the approved measures were 'watered-down' from their initial plans. Leftist Social Democrats, government's biggest party...

As the U.S.-Israeli conflict with Iran continues, a growing number of governments are scrambling for liquidity and to calm the financial markets. This is due to the pressure that the war on Iran has placed on their currencies, and the volatility in the market. How different countries respond: SOUTH KOREA South Korea is planning to 'buy back emergency bonds worth 5 trillion won ($3.32 billion), to inject liquidity into the local bond market, and to cap rising yields. This comes after three-year treasury yields reached their highest level since mid-2024. The ministry has also extended fuel tax reductions and is...

Petrol pump dealers reported that Nayara Energy, a private Indian refiner with Russian backing, has raised the price of gasoline and 'gasoil to offset some of its revenue losses from retail sales. Indian refiners are suffering revenue losses as retail sales for gasoline crack. Gasoil prices have soared to record highs. The dealers reported that Nayara, India’s largest private fuel retailer, raised the price of gasoline by 5 rupees a litre, to 100.71 rupees. Gasoil was also increased by 3 rupees a litre, to 91.31. Nayara plans to close its Vadinar refinery, which produces 400,000 barrels of gasoline per day,...

White House Press Secretary Karoline L. Leavitt stated that the United States issued a stern warning on Wednesday to Iran, saying President Donald Trump would strike 'harder' if Tehran refused to accept they had been "defeated militaryly". "President Trump is not a bluff, and he's prepared to unleash hell." Leavitt, in a briefing to reporters, said that Iran shouldn't?miscalculate" again. She said that if Iran does not accept the present reality, or if it fails to understand they are militarily defeated and will remain so, President Trump will make sure they get hit harder than they ever have before. The...

Chicago soybean futures declined on Wednesday. They tracked losses in soyoil due to lower crude oil prices, based on reports that the U.S. was seeking a ceasefire of a month for its war against Iran. The price of corn and wheat futures also declined. As of 0325 GMT, the?most active?soybean contracts on the Chicago Board of Trade slipped 0.2% to $11.52-3//4 a bushel. Soyoil dropped 0.8% to 65.21cents per pound. CBOT corn fell 0.7% and wheat dropped 6%, to $4.59-1/2 per bushel. The oil prices fell more than 5% on Wednesday, as a result of reports that the U.S. had...

On Tuesday, oil prices soared on fears of a shortage, after Iran denied that it had?talks? with the United States about ending the Gulf War, in contradiction to U.S. president Donald Trump, who claimed a deal would be reached soon. Crude futures dropped by more than 10% after Trump ordered the delay of attacks on Iran's power plants for five days, claiming that he had held talks with Iranian officials who were not named, and they had reached "major agreements". Brent futures were up $1.25 or 1.3% to $101.19 a barrel by 0858 GMT. U.S. West Texas Intermediate rose $2.15...

Local media reported that despite assurances from Australian ministers, the market was well-supplied. The Sydney Morning Herald reported on Tuesday that New 'South Wales, Australia’s most populous state, had 165 petrol stations without diesel and 298 with no gasoline at all. This is as consumers stockpile fuel in anticipation of the U.S./Israeli war against Iran. Chris Bowen, the Energy Minister, confirmed in Parliament that there were shortages at petrol stations across multiple states. Bowen announced on Tuesday that fuel standards would be relaxed again, allowing more diesel to enter the market. This comes after Bowen had already lowered sulphur limits....