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US-Iran war to pull global economy to post-COVID low: World Bank
US-Iran war to pull global economy to post-COVID low: World Bank The Washington institution cut its global growth forecast by 0.4 percentage points to 2.5 percent, citing surging energy prices, inflation and borrowing costs. The conflict in the Middle East is set to bring global economic growth to its slowest since the COVID-19 pandemic, the World Bank has warned. In its latest Global Economic Prospects report, published on Thursday, the Washington-based institution cut its global growth...
Wall Street futures gain as AI advances overshadow US-Iran tensions
Wall Street futures gain as AI advances overshadow US-Iran tensions June 1 : U.S. stock index futures climbed on Monday, starting June on a firm footing, as the latest AI push from Nvidia and Microsoft lifted shares, even as uncertainty over the Middle East war lingered. Nvidia rose 1.6 per cent in premarket trading after the world's most valuable company unveiled a new chip that brings AI capabilities to laptops and desktops, set for release this fall. The chip is a result of a three-year...
US-Iran deal: Tehran demands release of frozen assets
The US and Iran are negotiating to end the war, with the last sticking point being $24 billion in Iranian funds frozen in banks worldwide. The funds are a result of US sanctions and are a major issue in the negotiations. The source close to the negotiations told Iran's Fars news agency that the release of these funds is crucial to the deal.
Dollar steadies as markets await signals on Iran war, central banks
Dollar steadies as markets await signals on Iran war, central banks TOKYO, June 1 : The U.S. dollar held steady on Monday after a weekly loss as markets awaited the results of peace talks in the Middle East and signals on the timing of central bank rate hikes. The dollar index edged lower last week on hopes for a deal between the United States and Iran to open the Strait of Hormuz shipping lane for oil. Oil jumped in early trade after Israel ordered troops to move further into Lebanon in the...
How Lebanon became the breaking point for the Iran war ceasefire
How Lebanon became the breaking point for the Iran war ceasefire Iran has switched from projecting power via its proxy armed groups around the region to using its own firepower to protect them, analysts say. After weeks of warning that continuing Israeli attacks on Lebanon would jeopardise diplomacy, Iran launched its first direct strikes on Israel in two months overnight on Sunday, casting new doubts about the likelihood of a US-Iran peace deal. While Israel and the US have sought to...
At 7.7%, India's GDP growth in FY26 beats slowdown predictions; but will the momentum continue?
India’s economy continues to defy all growth projections. At 7.8%, India’s GDP growth for the fourth quarter of FY 2025-26 beat all estimates by a wide margin. Retaining its tag of being the fastest growing major economy, India grew at a robust 7.7% in FY26, exhibiting fundamental strength in a quarter that was partially affected by the US-Iran war.
Iran war impact: RBI likely sold $12bn gold reserves to shield foreign currency assets
Amid the ongoing US-Iran conflict, the Reserve Bank of India may have sold some of its gold holdings to protect foreign exchange reserves from the economic fallout of the Middle East situation, according to a report. India, the world's third-largest importer of crude oil, is facing mounting pressure on its foreign exchange resources as the conflict in the Middle East pushes up energy costs and weakens the domestic currency. To limit the impact of these external shocks, the government has...
Live: ASX set for strong start after Wall Street rebounds
live ASX set for strong start after Wall Street rebounds as Trump signals US-Iran deal is near The local share market is poised to open about 1.7 per cent higher after Wall Street rallied overnight. Brent crude plunged more than 4 per cent after US President Donald Trump called off scheduled strikes on Iran and signalled the US was close to a deal with Iran. Meanwhile, SpaceX raised a record $US75 billion after pricing 555.56 million shares at $US135 each in its IPO.
US tech shares resume sell-off while oil prices retreat
US tech shares resume sell-off while oil prices retreat Global stocks mostly fell Tuesday (Jun 9) as US tech shares faced another round of selling followed recent outsized gains and markets weighed the latest uptick in US-Iran tensions. Oil prices retreated, with Brent crude briefly dipping below US$90 per barrel for the first time since Apr 14, after US President Donald Trump hinted at a deal with Iran in the coming days, despite renewed strikes by Israel on Hezbollah targets in Lebanon....
RBI debunks report claiming it sold $12 billion worth of gold to protect forex reserves
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday dismissed report claiming that it may have sold gold worth about $12 billion to bolster foreign exchange reserves and support the rupee amid economic pressures linked to the ongoing US-Iran conflict. In a press release, RBI said, "The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI’s sale of gold. The RBI emphasises that these reports are not correct.