Berlin: European Central Bank President Christine Lagarde warned that Europe faces a highly uncertain economic outlook due to the ongoing conflict around the Strait of Hormuz, which continues to disrupt global energy supplies and heighten inflation ri…
Business
IEA Chief Warns Global Energy Crisis Will Reshape Markets and Deepen Risks
Paris: The global energy system is facing an unprecedented level of fragility driven by geopolitical tensions, the International Energy Agency (IEA) chief warned on Tuesday. ‘We are living in an extremely fragile situation. The global economy. depends…
Canada Forms Advisory Council for US Trade Review
Ottawa: The Canadian government plans to announce the formation of a new advisory council to assess the state of trade with its southern neighbor ahead of a formal review of the US-Mexico-Canada (USMCA) Agreement. Michael Sabia, the clerk of Canada’s …
Hormuz Traffic Remains Constrained as 15 Vessels Transit Strait Amid Intensified US Naval Blockade
Hormuz: Commercial ship traffic remained at a virtual standstill around the Strait of Hormuz over the last 24 hours as of 1500GMT Monday, with only 15 vessels appearing in shipping data, as a fragile ceasefire between the US and Iran teetered on the b…