Petron Corp., the Philippines’ only refiner, has procured 2.48 million barrels of crude oil from Russia as the Southeast Asian nation scours the world for alte…
Dalal Street heads for holiday-shortened week amid Mahavir Jayanti, Good Friday
Times of India – World
· India
Indian stock markets face a shortened trading week with closures on Tuesday, March 31, for Mahavir Jayanti and Friday, April 3, for Good Friday. This marks the…
Indonesia cuts free meals to save US$2.3 billion as fuel prices soar
South China Morning Post – World
· China
Indonesia is looking to save up to 40 trillion rupiah (US$2.3 billion) by cutting back on its free meal programme, an official said on Sunday, in a first auste…
One in five UK hospitality businesses fear collapse as costs surge
The Guardian – World
· Europe
Exclusive: Pubs, restaurants and hotels warn of mounting pressure days before rates rises and higher wage bills take effectOne in five hospitality businesses f…
Americans struggle as Iran war puts strain on everyday costs: ‘I’m worried we won’t make it through’
The Guardian – World
· Europe
Following the US-Israeli strikes on Iran, gas prices, grocery bills and mortgage rates have all climbed The US-Israel war against Iran has sent shockwaves thro…
Oil on track for record monthly surge as Iran war disrupts markets
The Guardian – World
· Europe
Brent crude jumps 51% since start of March and gold suffers fifth-largest monthly fall in 50 yearsMiddle East crisis – latest updatesThe Brent crude oil price …
OpenAI founder proposes to remove income tax on Americans earning less than $100k
Times of India – World
· India
Venture capitalist Vinod Khosla proposes eliminating federal income tax for Americans earning under $100,000, funded by higher capital gains taxes. He believes…
Middle East war, oil prices to steer markets in holiday-shortened week
Times of India – World
· India
Indian stock markets brace for a volatile, shortened week. Geopolitical tensions in the Middle East, crude oil price fluctuations, and the rupee's stability ar…
From office to dark streets: How oil crunch is reshaping daily life in different nations
Times of India – World
· India
Global economies reel as Middle East conflict escalates, disrupting oil supplies via the Strait of Hormuz. Nations like Vietnam and India are cutting fuel taxe…
India stands alone against China-backed WTO investment pact
Times of India – World
· India
While India is keen to find a solution, for almost 30 years, it has used this as a bargaining chip at every meeting, realising that an imposition of duty on st…
PM Modi backs ethanol blending as key to cutting crude imports
Times of India – World
· India
“Farmers’ efforts in this have given a lot of relief to the country at this time of global crisis,” he said. Ethanol production, he added, has not only benefit…
For Asia, the worst effects of Trump’s war on Iran are yet to come
South China Morning Post – World
· China
The law of unintended consequences, a theory popularised by American sociologist Robert K Merton, has rarely been more applicable to any situation than to US P…
Russia to introduce ban on gasoline exports from April 1
The Hindu – World
· India
Mr. Novak said that turmoil in the global oil and oil products market, caused by the crisis in West Asia, is leading to significant price fluctuations
Strait of Hormuz disruptions: India's crude buys from Russia may double from January levels
Times of India – World
· India
Traditionally, India has sourced most of its crude from the Middle East, particularly Iraq, Saudi Arabia and the UAE, owing to geographical proximity, establis…
Petrol, diesel prices: With ongoing war, what India's fuel situation looks like – top points
Times of India – World
· India
Petrol and diesel prices remained largely stable across major Indian cities today, despite global crude oil surges due to the US-Iran conflict. The government'…
At Rs 999, LPG in Adilabad 2nd priciest in country
Times of India – World
· India
Adilabad district in Telangana faces the highest LPG prices in South India at Rs 999 per cylinder, significantly impacting household budgets. This surge, attri…
Myanmar travellers take to the trains as fuel prices rise
South China Morning Post – World
· China
Myanmar’s ageing railway stations are bustling with life, crowded with passengers as surging fuel prices due to the Middle East war drive commuters to choose t…
Labor to underwrite Australian fuel imports under new security powers to ensure supply
The Guardian – World
· Europe
PM did not rule out later fuel rationing or work-from-home measures but said he strongly preferred ‘voluntary arrangements’Get our breaking news email, free ap…
Commercial LPG allocation to states increased by 20%
Times of India – World
· India
In a letter to chief secretaries of states and UTs, petroleum secretary Neeraj Mittal said only those industrial units that have registered with oil marketing …
Govt slashes excise duty on petrol, diesel to shield consumers, oil companies
Times of India – World
· India
The windfall tax will also help the Centre partly offset the impact of the excise duty cut. Central Board of Indirect Taxes and Customs chairman Vivek Chaturve…
There are high hopes for upgrades to the Apapa Quays and Tin Can Island ports. But concerns remain over corruption and longstanding bottlenecks plaguing Nigeri…
Rubio says sanctions relief for Russian crude not permanent as war roils oil market
Times of India – World
· India
- TOI World Desk provides accurate, timely global news with diverse perspectives via a dedicated team of journalists.
- Offers financial calculators for loan…
Older Australians in ‘immediate danger’ as fuel crisis affects travel for aged care workers
The Guardian – World
· Europe
Unions and farmers call for government intervention as agriculture, construction and waste industries also at risk from higher pricesGet our breaking news emai…
‘It’s fired people up’: support grows, including within Labor, for new gas tax to curb wartime profits
The Guardian – World
· Europe
Government, industry and opposition see growing public support for a new gas tax but the industry is fighting backGet our breaking news email, free app or dail…
Post Ajit Pawar crash, DGCA issues new rules for VVIP non scheduled flights
Times of India – World
· India
Following a fatal small plane crash, the DGCA has issued new guidelines empowering pilots flying VVIPs to refuse unsafe flights. These rules aim to prevent und…
Hong Kong’s MTR Corp to keep fares unchanged for second year in row
South China Morning Post – World
· China
Hong Kong’s rail giant has announced it will keep fares unchanged for the coming year after an annual review, marking the second year without any increase.
“Th…
Chinese market regulator tells firms to focus on healthy competition overseas
South China Morning Post – World
· China
China’s market regulator has told companies including electric vehicle maker BYD and battery giant Contemporary Amperex Technology Ltd (CATL) to compete health…
Pain at the pump fuels EV rush in China, driving a timely boost for carmakers
South China Morning Post – World
· China
Rising fuel costs triggered by the Middle East crisis are emerging as an unexpected tailwind for China’s electric vehicle (EV) makers, as consumers increasingl…
EU to target Temu, Shein and other companies with a levy on small packages coming from outside the bloc
Deutsche Welle (DW) – World
· Europe
The European Union has announced that it will introduce handling fees for non-EU small packages from November 1. The fee will be charged in addition to a custo…
Iran war: Is another 1970s‑style oil crisis looming?
Deutsche Welle (DW) – World
· Europe
Supply disruptions, high prices, nervous markets — the war in Iran brings back memories of the oil crises of the 1970s. Back then, many economies plunged into …
Middle East crisis: Govt puts export duties on diesel, turbine oil; eyes Rs 1,500 cr collection
Times of India – World
· India
The government has imposed export duties on diesel and turbine fuel to boost domestic availability and energy security, estimating Rs 1,500 crore in revenue. S…
Iran war shows China’s urgent need to plug maritime insurance gap: expert
South China Morning Post – World
· China
The havoc unleashed on global shipping by the US-Israel war on Iran has underlined China’s urgent need to fix its lack of a robust maritime insurance industry,…
India news: Government reduces special excise duties on petrol and diesel
Deutsche Welle (DW) – World
· Europe
The Indian government has ordered the cut amid the volatility in global crude prices. Other headlines in our daily news roundup include the oil minister denyin…
India prepares to re-start LNG buys from Russia; seeks US waiver, says report
Times of India – World
· India
Apart from crude oil disruptions, the supply of LPG and LNG have also been hit. India imports a big portion of its LPG and LNG needs and has been looking to st…
Planning to Buy a Home? March Could Be the Best Time to Get Your Home Loan
Your Story
· India
As the financial year ends, March offers homebuyers a window to align tax planning, financial clarity, and faster loan processing.
March 2026 presents a strat…
Iran crisis bites into Malaysia’s supply chain as Anwar cuts fuel subsidy quota
South China Morning Post – World
· China
Four weeks into the US-Israeli war on Iran, the crisis is beginning to bite in Malaysia, where Prime Minister Anwar Ibrahim has cut the monthly quota for subsi…
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- Philippines relies on Middle East for most oil, seeking alternatives to address supply shortages.
- Petron may purchase Russian crude if alternatives fail, citing "extreme necessity" to sustain fuel supply.
- Government declared energy emergency due to supply crunch, with 45 days of oil reserves as of March 20.
- Negotiating fuel supply deals with Japan, China, South Korea, and India to diversify sources.
Two Australian states offer free public transport as war pushes up fuel prices
Source: BBC News – World
·
- Victoria and Tasmania offer free public transport (April-June) to reduce driving amid soaring fuel prices linked to Middle East tensions.
- Australia halved fuel excise tax for three months, saving drivers A$10–A$20 per tank, costing A$2.55bn in taxpayer funds.
- Global oil prices surged due to Strait of Hormuz blockades, prompting nations like Egypt, Ethiopia, and the Philippines to adopt fuel-saving measures.
- Fuel prices in Australia rose to A$2.38 per litre, with governments citing international market shifts, not supply, as the primary cause.
Dalal Street heads for holiday-shortened week amid Mahavir Jayanti, Good Friday
Source: Times of India – World
·
- TOI Business Desk provides global business news, covering industries, markets, economic trends, and in-depth analysis.
- Focuses on delivering timely insights to help readers navigate complex business environments.
- Offers tools to estimate loan installments, SIP returns, PPF/FD maturity, NPS pensions, and mutual fund values.
- Committed to keeping readers informed about dynamic global economic developments and financial planning.
Indonesia cuts free meals to save US$2.3 billion as fuel prices soar
Source: South China Morning Post – World
·
- Meal program shifts to 5-day weekly distribution (starting March 31) to save ~40 trillion rupiah, per National Nutrition Agency.
- Change aims to mitigate economic strain from Middle East war-driven oil price hikes.
- Remote/ high-stunting areas retain 6-day meal delivery to ensure daily nutrition.
- Policy aligns with school schedule while prioritizing vulnerable regions’ needs.
One in five UK hospitality businesses fear collapse as costs surge
Source: The Guardian – World
·
- Hospitality sector warns of collapse risks as 1 in 5 businesses face potential failure within 12 months due to rising costs.
- Tax and wage increases starting 1 April could add £1.4bn in costs, with pubs, restaurants, and hotels bracing for higher bills.
- Energy and ingredient costs, alongside inflation, exacerbate financial strain, worsening sector confidence and viability.
- Industry calls for urgent cost reductions to prevent job losses and closures, urging government support amid policy challenges.
Americans struggle as Iran war puts strain on everyday costs: ‘I’m worried we won’t make it through’
Source: The Guardian – World
·
- US-Israeli strikes on Iran triggered sharp gas price spikes, rising grocery bills, and mortgage rates, straining American households.
- Rising costs force families to cut essentials like food, transportation, and home repairs, with many facing financial instability.
- Small businesses, like a tattoo studio, shut down due to reduced demand, exacerbating economic strain.
- Healthcare and living costs heighten anxieties, with workers fearing medical risks and long-term financial insecurity.
Oil on track for record monthly surge as Iran war disrupts markets
Source: The Guardian – World
·
- Brent crude rose 51% in March, biggest gain on record due to Middle East conflict, with Iran closing Hormuz strait.
- Gold fell 15%, fifth-largest monthly drop in 50 years, pressured by investor liquidation and Turkish Central Bank sales.
- Global stocks, including Dow and FTSE 100, fell sharply; UK bonds saw 17% yield rise, highest since 2022.
- European bonds, like Italian debt, faced declines; fiscal constraints limit fiscal response, worsening growth outlook.
OpenAI founder proposes to remove income tax on Americans earning less than $100k
Source: Times of India – World
·
- TOI Tech Desk provides tech news to The Times of India readers, covering gadgets, AI, cybersecurity, and social media platforms.
- Focuses on in-depth analysis, reviews, exclusive reports, and breaking tech stories with accuracy.
- News spans trends, how-tos, and updates on digital ecosystems impacting users.
- Article includes product price listings (e.g., smartphones, laptops) alongside tech coverage.
Middle East war, oil prices to steer markets in holiday-shortened week
Source: Times of India – World
·
- TOI Business Desk provides global business news, tracking industries, markets, and economic trends.
- Focuses on in-depth analysis, exclusive reports, and breaking stories impacting economies.
- Aims to equip readers with insights to navigate complex business landscapes.
- Dedicated team ensures timely, relevant updates for The Times of India audience.
From office to dark streets: How oil crunch is reshaping daily life in different nations
Source: Times of India – World
·
- TOI Business Desk provides global business news, covering industries, markets, economic trends, analysis, and breaking stories.
- Focuses on delivering insights to help readers navigate business complexities and economic impacts.
- Article includes financial calculators for estimating loan installments, SIP returns, PPF, FD, pension, and mutual fund values.
- Tools aid users in calculating investment returns, maturity amounts, and planning financial goals effectively.
India stands alone against China-backed WTO investment pact
Source: Times of India – World
·
- Calculate monthly loan installments for repayment planning.
- Estimate SIP returns for investment tracking.
- Determine PPF and FD maturity amounts and interest.
- Assess NPS pension corpus and use Mutual Fund Calculator for future value.
PM Modi backs ethanol blending as key to cutting crude imports
Source: Times of India – World
·
- Shafaque Alam is a special correspondent at *The Times of India* based in Noida.
- He focuses on traffic, transport, and civic issues in Noida, Greater Noida, and Yamuna Authorities.
- Covers urban development and governance challenges in the region.
- Passionate about video journalism, poetry, and music.
Shops and restaurants in Egypt told to close early as energy crisis deepens
Source: BBC News – World
·
- Egypt mandates early closure of retail/dining by 21:00 for a month, alongside dimmed lights and home working to curb energy costs amid rising oil prices.
- Energy crisis stems from Iran war and Hormuz blockage, doubling Egypt’s petrol bill and threatening food/medicine prices.
- Tourism exemptions and generator use by hotels highlight sector resilience, while government cuts public transport and state projects.
- Global energy tensions drive fuel price spikes, with Ethiopia and others implementing fuel-saving measures to mitigate supply shocks.
For Asia, the worst effects of Trump’s war on Iran are yet to come
Source: South China Morning Post – World
·
- Asian economies face compounded crises from tariffs, supply chain disruptions, and energy import reliance, with Japan hit harder than China.
- The Iran attack’s economic fallout is emerging, affecting energy, petrochemicals, and global supply chains beyond oil prices.
- This crisis differs from past oil shocks, impacting infrastructure, transport, and financial markets globally.
- Crude oil prices surged 40%, and LNG to Asia rose 2/3, per the World Bank, highlighting energy price volatility.
Can This Russian Bakery Survive a 3,500% Tax Increase?
Source: The New York Times – World
·
- Small-business owner faces 35x tax hike due to Russia’s war costs, risking closure of his bakeries.
- He appealed to Putin directly, temporarily boosting sales but not solving financial strain.
- Russia’s economy struggles as taxes rise to fund war, straining pensions and small businesses.
- Business owner questions who will pay for soldiers’ pensions, highlighting systemic crisis.
Russia to introduce ban on gasoline exports from April 1
Source: The Hindu – World
·
- Russia's Deputy PM orders gasoline export ban from April 1 to July 31, per TASS report (March 28, 2026).
- Website sections include e-Paper, The View From India, and Science For All.
- Subscription login prompt highlights active subscription benefits and account settings.
- Article mentions Russia-Israel-US strikes on Iran/West Asia as part of broader geopolitical context.
Strait of Hormuz disruptions: India's crude buys from Russia may double from January levels
Source: Times of India – World
·
- TOI Business Desk delivers global business news, analysis, and insights on markets, trends, and economic developments.
- Focuses on industries, in-depth reports, and exclusive updates to inform readers about business complexities.
- Offers financial calculators for loan installments, SIP returns, PPF/FD maturity, and NPS corpus estimation.
- Aids readers in navigating commerce through timely, actionable, and accurate business intelligence.
Petrol, diesel prices: With ongoing war, what India's fuel situation looks like – top points
Source: Times of India – World
·
- TOI Business Desk delivers global business news, covering industries, markets, economic trends, and in-depth analysis.
- Focuses on providing timely insights to help readers navigate complex commerce and economic landscapes.
- Offers financial calculators for loans, SIPs, PPF, FD, NPS, and mutual funds to estimate returns and maturity amounts.
- Tools aid in calculating installments, pensions, and investment values for informed financial decisions.
At Rs 999, LPG in Adilabad 2nd priciest in country
Source: Times of India – World
·
- Sribala Vadlapatla is a Senior Assistant Editor at The Times of India with 15 years there and 30 years overall in journalism.
- Covers Telangana’s political, economic, health, tech, and socio-cultural topics.
- Interested in policy, governance, emerging tech, international affairs, economy, and music.
- Focuses on Telangana’s development through diverse sectors and global perspectives.
Myanmar travellers take to the trains as fuel prices rise
Source: South China Morning Post – World
·
- Commuters in Myanmar shift to cheaper, faster trains over costly planes/cars due to soaring fuel prices from Middle East war.
- Train first-class tickets (US$9) are cheaper than bus fares (starting at US$19) for Yangon-Naypyidaw routes.
- State railways use diesel, maintaining their own fuel stocks amid nationwide fuel shortages.
- Civil war since 2021 disrupts infrastructure, yet railways remain a vital, crowded transport option.
What is the TACO trade and are investors profiting amid war on Iran?
Source: Al Jazeera – News
·
- Global energy crisis intensifies due to Hormuz closure, with Japan releasing 80M barrels and OECD warning of UK inflation hitting 4%.
- Trump’s shifting deadlines for Iran spurred “TACO traders,” betting on his policy reversals to ease tensions.
- Oil markets rallied after Trump extended deadlines, but analysts note complex conflict dynamics limit market rebounds.
- TACO traders profit from Trump’s inconsistent messaging, though US cannot unilaterally retreat from its stance.
Labor to underwrite Australian fuel imports under new security powers to ensure supply
Source: The Guardian – World
·
- Australian government will cover financial risk for importing fuel, fertiliser, and essentials to secure supplies amid Middle East war.
- New laws allow public funds to underwrite fuel imports, reducing risk for private companies to secure additional supplies.
- PM prefers voluntary measures over mandates for work-from-home or rationing, urging against panic buying to prevent shortages.
- Fuel reserves at 39 days for petrol, 30 days for diesel, with efforts to boost supply to regional areas via independent distributors.
Commercial LPG allocation to states increased by 20%
Source: Times of India – World
·
- India's petroleum ministry raised commercial LPG allocation to states by 20% to meet industrial demand.
- The adjustment supports industrial units facing increased LPG requirements.
- The move aims to address rising commercial LPG needs across states.
- States will receive higher allocations to ensure industrial supply stability.
Markets plunge and U.S. oil hits $100 as Trump's attempt to reassure Wall Street fails
Source: NBC News – World
·
- **Market decline**: S&P 500 fell 1.7%, marking its worst weekly drop since 2022, with oil prices hitting $100/barrel and Treasury yields near 4.4%.
- **Trump’s influence wanes**: Markets now demand concrete actions, not just rhetoric, as Iran conflict disrupts oil flows and strains inflation, limiting Fed rate cuts.
- **Economic fallout**: Prolonged oil disruptions and higher prices risk delaying rate cuts, with experts warning markets won’t revert to pre-war levels even if hostilities end.
- **White House vs. analysts**: Officials claim Trump still drives market confidence, but experts say his ability to sway markets is eroding amid complex geopolitical and economic factors.
Govt slashes excise duty on petrol, diesel to shield consumers, oil companies
Source: Times of India – World
·
- India's government intervenes to protect consumers and oil companies from high crude prices.
- Crude prices surged 62% this month compared to February.
- Measures aim to stabilize domestic fuel costs and prevent economic strain.
- Shielding beneficiaries includes both consumers and energy sector players.
Nigeria bets on UK port investment
Source: Deutsche Welle (DW) – World
·
- UK invests £746 million to upgrade Nigeria’s Apapa Quays and Tin Can Island ports, aiming to cut cargo delays and boost efficiency.
- Persistent corruption, bureaucracy, and infrastructure decay plague Nigerian ports, costing €11 million daily and deterring trade.
- Critics warn the deal favors UK interests, risking operational control and deepening systemic issues like rent-seeking and cartels.
- Analysts stress that resolving corruption and inefficiencies is critical to transforming ports into competitive regional hubs.
Rubio says sanctions relief for Russian crude not permanent as war roils oil market
Source: Times of India – World
·
- TOI World Desk provides accurate, timely global news with diverse perspectives via a dedicated team of journalists.
- Offers financial calculators for loan installments, SIP returns, PPF, FD, NPS, and mutual fund estimates.
- Helps estimate pension corpus, investment maturity amounts, and interest earned on various financial instruments.
- Delivers tools to calculate future values of investments and retirement savings plans.
Older Australians in ‘immediate danger’ as fuel crisis affects travel for aged care workers
Source: The Guardian – World
·
- Unions and farmers urge government action as rising fuel costs threaten jobs in care, construction, and agriculture, with calls for wage subsidies or fuel vouchers to prevent layoffs.
- Home care workers face financial strain, risking reduced services for older Australians; unions warn of isolation risks if fuel costs aren’t addressed.
- Farmers struggle with diesel and fertilizer shortages, while housing builders fear job losses due to cost pressures and fixed-price contracts.
- Waste sector seeks petrol access prioritization, urging government support to stabilize businesses and avoid staff cuts amid rising fuel costs.
‘It’s fired people up’: support grows, including within Labor, for new gas tax to curb wartime profits
Source: The Guardian – World
·
- Public and political support grows for gas tax amid industry pushback, with Labor and Greens backing a 25% export levy to address perceived unfairness.
- Campaigns highlighting tax disparities galvanize public sentiment, prompting gas firms to counter with PR efforts and misinformation claims.
- Political divisions emerge as Labor and Coalition MPs debate tax reforms, with concerns over energy prices and trade impacts.
- Government seeks regional alliances to secure fuel supplies, amid industry warnings of reputational and economic risks from new taxes.
Post Ajit Pawar crash, DGCA issues new rules for VVIP non scheduled flights
Source: Times of India – World
·
- Calculate monthly loan installments and SIP investment returns.
- Estimate PPF/FD maturity amounts and earned interest.
- Determine NPS pension corpus and accumulated pension amount.
- Use a Mutual Fund Calculator to estimate investment future value.
Hong Kong’s MTR Corp to keep fares unchanged for second year in row
Source: South China Morning Post – World
·
- MTR Hong Kong froze fares for the second consecutive year, citing the direct-drive formula and affordability considerations.
- Fare adjustments balance inflation, wages, productivity, and public affordability, with a zero increase due to the affordability cap.
- Concessions for elderly, children, students, and disabled individuals will continue alongside fare stability.
- MTR emphasizes transparency, community support, and maintaining competitive pricing amid socio-economic challenges.
Chinese market regulator tells firms to focus on healthy competition overseas
Source: South China Morning Post – World
·
- **SAMR urges Chinese firms** to compete healthily overseas amid accusations of unfair practices, emphasizing standardized behavior and a healthy competition ecosystem.
- **Measures include antitrust enforcement**, compliance guidance, and institutional reforms to support high-quality growth for expanding companies.
- **First symposium** addresses challenges faced by Chinese firms abroad, focusing on combating "involution-style" competition.
- **"Involution-style" competition** refers to excessive rivalry leading to compressed margins, pushing firms to expand or cut costs for survival.
Pain at the pump fuels EV rush in China, driving a timely boost for carmakers
Source: South China Morning Post – World
·
- Rising oil prices push Chinese buyers toward EVs despite fading subsidies.
- Fuel cost hikes at $110/barrel add 200 yuan/month, intensifying pressure.
- Geopolitical tensions and Hormuz closure boost EV appeal.
- Consumers prioritize EVs for cost savings and safety amid oil price uncertainty.
War on Iran price crisis not just about energy, says analyst
Source: Al Jazeera – News
·
- Abdulla Banndar Al-Etaibi warns of rising food prices due to fertilizer supply disruptions.
- Fertilizer shortages stem from the war on Iran disrupting global supply chains.
- Disrupted fertiliser supplies threaten food production and affordability.
- The conflict’s economic impact could exacerbate global food insecurity.
India lowers fuel taxes, says rumours of lockdown ‘completely false’
Source: Al Jazeera – News
·
- India lowers petrol duties to 3 rupees/litre and removes diesel duties to shield consumers from soaring global oil prices amid Iran war tensions.
- Oil prices exceed $100/barrel due to Hormuz disruption; India, third-largest crude importer, claims no shortage with 74-day reserves, dismissing lockdown rumors.
- Export taxes on diesel and aviation fuel reinstated at 21.5 and 29.5 rupees/litre, reversing 2024 removal, amid refined product exports.
- Tax cuts may benefit loss-making oil firms, with analysts estimating a 1.55 trillion rupee fiscal hit, though consumer price impacts remain unclear.
EU to target Temu, Shein and other companies with a levy on small packages coming from outside the bloc
Source: Deutsche Welle (DW) – World
·
- EU imposes €2 handling fee (Nov 1) and €3 customs tax (July) on non-EU small packages, targeting cheap imports from China, Amazon, and platforms like Shein/Temu.
- New fines (2028) penalize companies exporting hazardous goods to EU, up to 6% of annual EU export revenue, addressing safety and quality concerns.
- German data shows Shein/Temu delivered 400k+ daily packages in 2024, generating €2.7–3.3B, with 14M Germans purchasing from these platforms in 2025.
- Measures aim to curb unsafe products, improve customs inspections, and address consumer complaints about quality and return policies from non-EU imports.
Iran war: Is another 1970s‑style oil crisis looming?
Source: Deutsche Welle (DW) – World
·
- Current crisis exceeds 1970s oil shocks, with 11M barrels/day supply shortfall vs 5M in 1973-79.
- Hormuz closure caused 8% global oil supply drop, deeper than 1973’s 5% reduction.
- Market expects quicker resolution than 1970s, where prices remained elevated for years.
- Diversified oil markets and reserves now buffer supply gaps, reducing crisis severity.
Soaring Diesel Prices Set Off Transport Strike in Philippines
Source: The New York Times – World
·
- **Transport workers in the Philippines strike over soaring fuel prices, linked to the Middle East war, demanding government action to cut costs and support livelihoods.**
- **Subsidies of $84 per driver face gaps, leaving some, like jeepney driver Jaime Ricafrente, reliant on private aid amid financial strain.**
- **Government seeks alternative oil sources, including Russian crude, but uncertainty remains on when this will ease fuel prices.**
- **Energy crisis sparks political tensions, with left groups criticizing the Marcos administration for burdening poor Filipinos.**
Middle East crisis: Govt puts export duties on diesel, turbine oil; eyes Rs 1,500 cr collection
Source: Times of India – World
·
- TOI Business Desk provides global business news, covering industries, markets, economic trends, and in-depth analysis for informed readers.
- Focuses on breaking stories, exclusive reports, and insights to help navigate dynamic commerce and economic complexities.
- Offers financial calculators for loan installments, SIP returns, PPF/FD maturity, pension corpus, and mutual fund future value.
- Aids readers in estimating investment returns, pension amounts, and understanding financial instruments for better planning.
Iran war shows China’s urgent need to plug maritime insurance gap: expert
Source: South China Morning Post – World
·
- China's maritime sector depends on overseas legal and financial services, posing a strategic vulnerability.
- Chen highlights reliance on foreign "software" (legal/financial services) dominated by Europe/US.
- Russia-Ukraine war and Middle East tensions expose risks of lacking independent insurance systems.
- Experts urge China to develop self-sufficient maritime financial and insurance capabilities.
India news: Government reduces special excise duties on petrol and diesel
Source: Deutsche Welle (DW) – World
·
- Indian government cuts oil amid global price volatility, amid rumors of a lockdown denied by oil minister.
- Modi holds virtual meeting with state CMs to address US-Israel war's impact on fuel, inflation, and logistics.
- India and US finalize in-person trade deal talks amid delays, with Commerce Minister Goyal meeting US reps.
- Nepal’s youngest PM, Balendra Shah, sworn in, with Modi praising India-Nepal ties amid regional geopolitical shifts.
Resurgent Inflation Tests Faith in Fed’s Willingness to Tame It
Source: The New York Times – World
·
- Middle East war risks worsening U.S. inflation, testing Fed's control over rising prices.
- Fed has missed 2% inflation target since 2021, with energy and tariffs driving costs.
- Consumer and investor confidence remains high despite persistent inflation concerns.
- OECD and Goldman Sachs predict U.S. inflation could rise to 4.2% in 2024.
India prepares to re-start LNG buys from Russia; seeks US waiver, says report
Source: Times of India – World
·
- TOI Business Desk delivers global business news, analysis, and market trends to keep readers informed.
- Focuses on industries, economies, and breaking stories impacting businesses and markets.
- Aims to equip readers with insights to navigate complex commerce and economic shifts.
- Provides financial calculators for loans, SIPs, PPF, FD, NPS, and mutual fund estimates.
Planning to Buy a Home? March Could Be the Best Time to Get Your Home Loan
Source: Your Story
·
- March 2026 is a strategic time for home loans as the financial year ends, offering tax benefits and financial clarity for buyers.
- Buyers gain better income visibility and repayment capacity insights, aiding informed loan decisions.
- Supportive lending environment and digital processes streamline applications, reducing delays and paperwork.
- Acting early, preparing documents, and applying online ensures smoother transactions and financial clarity.
Iran crisis bites into Malaysia’s supply chain as Anwar cuts fuel subsidy quota
Source: South China Morning Post – World
·
- Malaysia's petrol quota cut reflects war's impact on fuel costs, food supply, and inflation.
- Food industry warns of supply chain disruptions from geopolitical tensions.
- Analysts link distant conflict to rising Malaysia's inflation and economic strain.
- Anwar highlights conflict's direct effects, balancing ties with Iran and calls for resolution.
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