Agencies Warn El Niño Could Be Strongest Ever
US weather agencies confirm El Niño transition, with 63% chance of a 'very strong' event by Nov-Jan, potentially one of the strongest since 1950, impacting global weather and India's monsoon.
Category : Global Economy
US Stocks Rebound as AI Shares Lead Recovery; Oil, ECB in Focus
US stock markets rose on Thursday, led by a rebound in technology and AI stocks, while investors monitored Middle East tensions, inflation, and ECB rate hike.
World Bank Cuts 2026 Global Growth Forecast to 2.5%
The World Bank lowered its 2026 global growth forecast to 2.5%, citing Middle East conflict, rising energy prices, and market uncertainty. India remains the fastest-growing major economy with 6.6% GDP growth projected for FY 2026-27.
Hydrocarbon ties key to India-US $500 billion trade goal
A report by USIBC and Grant Thornton Bharat highlights deeper hydrocarbon cooperation as vital to achieving the India-US $500 billion bilateral trade target by 2030, urging expanded investment and technology collaboration.
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Wall Street Mixed on Tech Selloff, Iran Tensions, Rate Fears
Wall Street indexes traded mixed as tech stocks slumped, Iran tensions rose, and Fed rate cut expectations faded, with inflation data offering little relief.
China's Oil Imports from Iran Drop Amid Strait Crisis
China's crude imports from Iran fell sharply in May 2025, reducing global supply disruption from the Strait of Hormuz closure. Weaker demand, EV adoption, and record stockpiles drive this trend.
Fitch Sees Oil at $87 in 2026 After Strait of Hormuz Reopens
Fitch Ratings forecasts Brent crude at $87 per barrel in 2026, expecting the Strait of Hormuz to reopen by July, easing global crude supplies.
SAF Production to Reach 2.4M Tonnes in 2026, IATA Says
IATA forecasts global SAF production at 2.4 million tonnes in 2026, only 0.8% of aviation fuel, underscoring challenges to net-zero goals. Airlines will spend $4.3 billion on SAF this year.
Why Oil Prices Stayed Below $100 Despite Hormuz Crisis
Despite a blockade at the Strait of Hormuz removing over 10 million barrels daily, oil prices remain below $100 due to US exports, weaker Chinese demand, and alternative routes.
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Biodiversity Loss May Spike Interest Payments for India, China
A study reveals biodiversity loss could increase annual debt servicing costs by $49 billion in India and $70 billion in China, highlighting systemic economic risks.
EU Flags 365 Indian Products for Pesticides, Heavy Metals
The European Union has flagged 365 Indian products, including herbs, spices, fruits, and vegetables, for containing pesticides and heavy metals above permissible limits.
Rising Oil Prices Squeeze Patna Household Budgets
Rising crude oil prices due to West Asia tensions and Strait of Hormuz disruptions push up fuel and essential commodity prices in Patna, straining household budgets.
Thompson Challenges Bessent's 'Golden Age Economy' Claim
US Representative Mike Thompson clashed with Treasury Secretary Scott Bessent over his 'golden age economy' claims, highlighting rising costs for essentials and pressing on inflation, tax policies, and IRS allegations.
Amazon Prime Day 2026 Moved to June 23-26
Amazon shifts Prime Day to June 23-26, citing FIFA World Cup and US Independence Day. The four-day event aims to boost grocery sales amid competition with Walmart.
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India-UK Trade Pact Stalled Over Steel, Carbon Tax
India and the UK discussed key issues delaying the India-UK CETA implementation, including UK's steel safeguard measures and carbon border tax, which could impact Indian exports worth USD 775 million.
Indore Airport Hit by Storms; Air India Cuts Delhi Flights
Severe weather at Indore airport diverted flights and caused delays. Air India also halved its daily Indore-Delhi flights from June 1, citing fuel costs.
US Taps Emergency Oil Reserves as Iran Conflict Strains Supply
The US has withdrawn 50 million barrels from its Strategic Petroleum Reserve since the Iran conflict began, pushing stockpiles toward 1980s lows and sparking debate over energy security.
UAE Petrol Prices Surge to Dh3.95 in June 2026
UAE fuel prices for June 2026 rise to near 4-year highs, with Super 98 at Dh3.95/litre. Diesel drops to Dh4.33. Prices up over 60% since February.
India lowest in fuel affordability among top 10 economies
An average Indian can buy only 8 litres of petrol with daily income, while Americans can buy 199 litres. India ranks 121st globally in petrol affordability.
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Goa Statehood Day Celebrated at Galgotias University
Galgotias University hosted a vibrant celebration of Goa Statehood Day, showcasing Goan culture, music, and heritage through performances and cuisine.
India's Consumption Slowdown Likely from Weak Monsoon
India's consumption faces a near-term slowdown due to predicted El Nino-weakened monsoon, lowest in 11 years, impacting rural demand and sales of various products.
Trade Liberalisation Talks with India Intensified: Putin
Russian President Vladimir Putin announced intensified trade liberalisation talks with India, aiming to boost bilateral trade and economic cooperation between the two nations.
IEA: West Asia Conflict to Reshape Energy Investment Strategies
The IEA's World Energy Investment 2026 report warns that the West Asia conflict is reshaping global energy strategies, boosting diversification and infrastructure investment.
US Q1 GDP Growth Revised Down to 1.6% on Weaker Spending
The US economy grew at a 1.6% annual rate in Q1 2026, down from the 2% initial estimate, due to downward revisions in consumer spending and investment, as per Commerce Department data.
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US Inflation Hits 3.8% in April, Highest in Three Years
US inflation accelerated to 3.8% in April, highest since May 2023, driven by rising fuel and food prices amid economic fallout from Trump's Iran war.
Rising Airfares Split US Summer Travel Market
Inflation and higher fuel costs are dividing America's summer travel market between affluent and cost-conscious travelers, with airfare up 20% and budget-conscious households cutting back.
Financial Trap Keeps Half of US Workers in Jobs They'd Quit
A new survey reveals that half of US workers would quit within 3 months if they had savings for a year, highlighting financial insecurity as the key driver of retention, not loyalty.
Tories Pledge to End Air-Con Ban Amid UK Heatwave
Britain's record May heatwave sparks political debate as Conservatives vow to reverse net-zero regulations banning air-conditioning in new homes, citing productivity and health concerns.
Maharashtra Signs Rs 400 Crore Green Energy MoU with Aggreko
Maharashtra government signed a MoU with Aggreko India for Rs 400 crore investment in Pune, aiming to boost climate action and generate 1,000 jobs. CM Fadnavis emphasized sustainable development.
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India Has 78 Days of Crude Stock, Oil Supply Under Control
India has 78 days of crude stock, and the government assured a parliamentary panel that proactive measures prevent fuel shortages amid global conflict uncertainty.
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