Bombay Durpun - Economy

US consumer inflation unchanged but price shocks from Iran war loom

Consumer inflation in the United States remained stable at 2.4 percent in February, official data showed Wednesday, with price shocks from the US-Israel war on Iran yet to be reflected in the data.

IEA says members to release 400 mn barrels from oil reserves

The International Energy Agency said Wednesday its member countries would unlock 400 million barrels of oil from their reserves to ease the impact of the Middle East war, the biggest such release ever.

US consumer inflation unchanged at 2.4% year-on-year in February

Consumer inflation in the United States remained stable at 2.4 percent in February, in line with market expectations, government data showed Wednesday, as affordability concerns persist in the world's largest economy.

German defence giant Rheinmetall sees business boost from Mideast war

German arms maker Rheinmetall said Wednesday the Middle East war offered new business opportunities, especially for its air defence systems, as it forecast continued strong growth this year.

Malawi court dismisses 15-year lawsuit against Madonna charity

A Malawi High Court has dismissed a wrongful‑termination case against US pop star Madonna brought by the sister of a former president, in one of the country's longest-running NGO disputes.

Airlines grapple with impact of Mideast war

Global airlines are grappling with the effects of the war in the Middle East, as fuel prices soar and customers reassess their travel plans.

Thai navy says cargo ship attacked in Strait of Hormuz

A Thai bulk carrier travelling in the crucial Strait of Hormuz was attacked Wednesday, with 20 crew members rescued so far, the Thai navy said.

Airlines in Asia hike fares as Mideast war raises fuel costs

Airlines in the Asia-Pacific region, including Qantas, Air India and Cathay Pacific, have hiked fares -- or will soon -- to factor in surging jet fuel prices spurred by war in the Mideast.

European football clubs score with stadium rebuilds

On a former derelict dock in the British port city of Liverpool, fans of Everton throng eateries and bars at the football club's new stadium ahead of a Premier League match.

Cathay says surcharge to rise as fuel prices jump during Mideast war

Hong Kong aviation giant Cathay Pacific said on Wednesday that fuel surcharges would rise as prices soared in March after war broke out in the Middle East.

Fears of fuel shortage in Pakistan as tankers wait to fill up

Tanker drivers in Pakistan said they were facing long waits at depots due to a shortage of fuel, as the government played down fears of another rise in prices.

Stocks rise again, oil stabilises as report says IEA considers release

Asian equities extended gains Wednesday while oil stabilised after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices.

Asian stocks extend gains, oil stabilises after crude release report

Asian equities extended gains Wednesday while oil stabilised after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices.

Dassault pitches latest private jet against US, Canadian rivals

France's Dassault on Tuesday unveiled its latest private jet, the Falcon 10X, pitched to rival the flagship planes from Gulfstream and Bombardier.

Louis Vuitton takes Paris fashion week on mountain ride

Models wore mountain capes, shepherds' hats and carried bags with bells attached to them as Louis Vuitton brought the curtain down on Paris fashion week with a back-to-nature show Tuesday.

White House says US Navy has not escorted tanker through Strait of Hormuz

The United States has not escorted any oil tanker through the Strait of Hormuz, the White House said Tuesday, after the energy secretary's social media account posted and deleted a claim that it did so.

US energy secretary's post saying US escorted tanker in Hormuz deleted

A post by US Energy Secretary Chris Wright saying that the US Navy had escorted an oil tanker through the Strait of Hormuz was deleted on Tuesday, minutes after his account had posted it.

Oil crisis: Is world better placed than in 1973?

Ten days after the first American and Israeli strikes against Iran, oil prices have cooled slightly after soaring above $100 a barrel.

Oil plunges, stocks rise as Trump says Iran war over 'very soon'

Oil prices sank and equities pushed higher Tuesday following a wild day of swings that came after President Donald Trump signalled that the US-Israeli war on Iran could end sooner than thought.

Global energy body discusses releasing strategic oil reserves

Member states of the International Energy Agency (IEA) were set to meet on Tuesday for crisis talks to assess security of supply and the potential release of emergency stocks as the Middle East war roils markets, the body's chief said.

Vietnam to tap emergency fund to cool surging fuel prices

Vietnam moved Tuesday to tap an emergency fund to cool surging fuel prices, as the Middle East war has disrupted supplies and sparked long queues at petrol stations across the country.

UK trial opens against Sony over PlayStation video game prices

A trial opened in London on Tuesday over a £2 billion ($2.7 billion) class action lawsuit that accuses Japanese entertainment giant Sony of breaching competition law by allegedly overcharging millions of UK PlayStation users.

Iran war sends prices in next door Turkmenistan soaring

At a market in Turkmenistan's capital Ashgabat, pensioner Shemshat Kurbanova always used to pick the "juiciest" Iranian fruit -- but 10 days of war across the border have sent prices soaring and she is now worried how to get by.

Volkswagen says to cut 50,000 jobs as profit slides

Germany's automotive giant Volkswagen said Tuesday it would cut 50,000 jobs at home by 2030 as its profit slid to its lowest level in almost a decade.

Oil plunges, stocks rally as Trump says Iran war over 'very soon'

Oil prices sank and equities rallied Tuesday following a wild day of swings that came after President Donald Trump signalled that the US-Israel war on Iran could end sooner than thought.

Iranian Kurds hunted by drones in Iraqi Kurdistan

When a deafening drone tore a hole in her roof in northern Iraq, Iranian Kurd Amine Poursaid, gripped by fear of another attack, packed her family's belongings and prepared to escape.

German exports drop in setback to fragile recovery

German exports dropped faster than expected in January, official data showed Tuesday, the latest sign that the recovery in Europe's struggling top economy remains fragile.

Iran vows to fight on and block all Gulf oil

Iran vowed on Tuesday that not one litre of oil would be exported from the Gulf while its war with the United States and Israel continues, in a stark rebuke to President Donald Trump's boast that the conflict was all but over.

Lego posts record profit despite geopolitical turmoil: CEO to AFP

Denmark's Lego, the world’s number one toy maker, on Tuesday posted record sales and profits for its 2025 financial year, marking a "fantastic" year, despite global tensions, Lego's CEO told AFP.

Crude plunges, stocks rally as Trump says war over 'very soon'

Oil prices sank and equities rallied Tuesday following a wild day of swings that came after Donald Trump said the US-Israel war on Iran would be ending earlier than thought.

Search called off after Indonesia landfill collapse kills seven

Indonesian rescuers have called off the search for victims of a landslide at the country's largest open landfill after pulling seven bodies out from under debris, an official said Tuesday.

AI offers hope for young filmmakers dreaming of an Oscar

Studying at the film school where Oscar-nominated "Sinners" director Ryan Coogler honed his craft, SiJia Zheng dreams of winning an Academy Award.

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