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Economic · Economic

Ukrainian drone strikes on refineries have created petrol and diesel shortages and brought the war home for Russians

Economic · Economic

Russia has introduced a full ban on diesel fuel exports and plans to start importing fuel at the same time.

Economic · Economic

Russia banned exports of diesel in order to avoid domestic shortages after a flurry of attacks by Ukrainian drones on the nation’s refineries.

Economic · Economic

Russia increased wheat supplies to all top five importers despite a sharp rise in global market competition

Economic · Economic

Overseas companies are still expanding in America even as tariffs, labour shortages and shifting policy complicate investment plans

Economic · Economic

Market strategist Ed Yardeni said the rupture in the ceasefire between the US and Iran risks sparking a fresh acceleration in price growth, which in turn could compel the Federal Reserve to raise interest rates.

Economic · Economic

Beijing has urged the Netherlands to ensure fair treatment for Chinese companies and maintain stable chip supply chains during a visit by the Dutch trade minister, as the two sides navigate tech tensions with Washington while seeking a “clean break” from friction over Nexperia. “We hope the Dutch government will create a fair, impartial and predictable business environment for Chinese companies investing in the Netherlands,” Commerce Minister Wang Wentao said during a meeting with his Dutch...

Economic · Economic

Danish prime minister, EU reject Trump's Greenland takeover remarks The US president said taking control of the world’s largest island was “very important” for the US, but “it’s not important for Denmark". “Hitler beat them out in one day, took over, they asked us to take care of Greenland. In fact, we took Greenland, and then stupidly, we gave it back,” Trump said, according to Al Jazeera. Danish prime minister Mette Frederiksen reiterated that Greenland is not up for grabs. “We are ready to defend every inch of Nato, including our own territory,” she said. European Union EU spokesman Olof Gill seconded her, saying “decisions about the future of Greenland are for Greenlanders and Danes”. Spain, meanwhile, downplayed Trump’s latest tirade after he called for the cutting off all trade and branded Madrid a “lost cause”, Al Jazeera reported. Unnamed government sources said Spain maintains “a magnificent social, cultural and economic relationship” with the US that benefits both countries, according to Spanish news outlet EFE.

Economic · Economic

Romania held interest rates at the highest level in the European Union as policymakers tackle double digit inflation in an economy on the verge of a recession.

Economic · Economic

Euro zone government bond yields reached their highest levels in nearly a month. This rise followed a sharp jump in oil prices and heightened inflation concerns. Geopolitical tensions escalated after the United States and Iran exchanged military strikes. Money markets now price in more interest rate hikes by the European Central Bank. These developments highlight energy prices' influence on inflation and monetary policy.

Economic · Economic

Germany’s benchmark bond yields climbed above 3% for the first time in nearly a month as a flare-up in fighting in the Middle East lifted oil prices and inflation expectations.

Economic · Economic

Traders are buying insurance against renewed weakness in the euro as climbing crude oil prices threaten last week’s rebound.

Economic · Economic

Japan's government is considering revising the language in its economic policy blueprint. This move aims to underscore the Bank of Japan's independence in monetary policy, and the revised draft highlights the central bank's role in achieving stable inflation. This reassures markets about policy coordination without undermining central bank autonomy. Investors will monitor the final blueprint for Japan's economic policy direction.

Economic · Economic

Irish lower house passes bill banning settlement goods A bill banning the trade of goods from the occupied Palestinian territory has been passed by the lower house of the Irish parliament, the Press Association reported. It was passed despite opposition criticism that it did not go far enough to combat Israeli settlements on Palestinian land because it omits services. Several amendments to the bill, including one that would have included services in the ban, were voted down. The bill prohibits the import of goods from "certain Israeli settlements", in line with Ireland's international obligations as set out in the International Court of Justice's July 2024 advisory opinion.

Economic · Economic

Options traders are increasing bets that the broader market is overestimating how much the Federal Reserve will raise interest rates this year.

Economic · Economic

Imbalance soars to $77.6bn in May as imports outpaced exports, driven by pharmaceuticals and semiconductors.

Economic · Economic

Americans’ expectations for inflation over the near and medium term rose in June amid strong increases anticipated for medical care costs and rent, according to a Federal Reserve Bank of New York survey released Tuesday.

Economic · Economic

NCDEX has relaunched black pepper futures after more than a decade, aiming to restore India’s role in global price discovery. The contract offers farmers, traders and exporters a regulated platform for hedging, transparent pricing and better risk management amid volatile commodity markets.

Economic · Economic

The US trade deficit widened in May to the most since March 2025 as exports fell and imports rose.

Economic · Economic

'We were scared to die': The West Bank workers hiding in bins to reach Israel Submitted by Jared Hillel on Mon, 07/06/2026 - 18:29 Cut off by Israel from the employment they once held legally, Palestinian labourers are risking arrest and gunfire to feed their families Israeli soldiers keep watch as Palestinians gather at the Qalandia checkpoint in the occupied West Bank city of Ramallah on 20 February 2026, to enter Jerusalem (Jaafar Ashtiyeh/AFP) Off In April, around 70 Palestinian men climbed into the back of a rubbish truck, hoping to cross into Israel undetected and search for work. Quickly discovered at a West Bank checkpoint, the men were left to languish under trash bags for over two hours in sweltering heat, before being pulled out and detained by Israeli soldiers. Majd, a 37-year-old from Beit Furik, just south of Nablus, was one of the labourers crammed inside. He asked that his real name not be used. “At the beginning when they stopped us, we were afraid to go to jail,” he told Middle East Eye. “Then when it took longer to get out, we were scared to die. ” The lengths Majd has gone to in order to find work – and provide for his family – are far from unique. In the immediate aftermath of 7 October 2023, Israel cancelled around 150,000 work permits. As savings have dried up, many Palestinians have had no choice but to sneak into Israel. Permit revocations are only one of the drivers behind the West Bank's economic crisis, which has seen GDP contract by more than 20 percent. While the current Israeli government has manufactured this collapse, controls imposed since the start of the occupation have left the territory uniquely exposed to such damage. Wages initially rose at the start of the occupation, after Palestinians gained access to Israeli labour markets. But the following decades saw a phenomenon known as "de-development" take hold, as a stunted agricultural and industrial base emerged with little room to grow. 'We are talking about a system in which Israel is dominating, and imposing severe restrictions in order to control and manage the Palestinians' - Walid Habbas, analyst According to a UN report published in 1984, restrictions on agricultural and industrial production, import and export controls, and a lack of investment in the absence of a financial system left the West Bank economically dependent on Israel. Such changes brought a "relative lack of opportunities for employment in the occupied territories, with consequent daily commuting to Israel by the Palestinian labour force," the report noted that s. That commuting pool grew steadily, and by the 1980s a third of the Palestinian workforce was employed in Israel. To control this flow of labour, a general exit permit was introduced in 1972. It allowed relatively easy movement between the occupied territories and Israel, as workers did not need case-by-case approval to enter. The first major reform came in 1991, when the general system was scrapped and permits were individualised. Free movement, previously the default, now required specific authorisation. Speaking to Middle East Eye, Walid Habbas of the Palestinian Forum for Israeli Studies said this shift, coupled with the building of the separation wall from 2002, meant "the system became more effective in controlling the mobility, the labour force and the trade". 'I looked for jobs here [in the West Bank], and I couldn't find anything' - Majd, Palestinian labourer From the 1990s onwards, the authorities showed a willingness to weaponise the system, freezing permits after Palestinian-led attacks and during the Second Intifada (2000-2005). During the Oslo era, Israel formalised its control over the economy through the Paris Protocol. Under the agreement, it began collecting tariffs, purchase taxes and VAT on imports on behalf of the newly established Palestinian Authority. These funds, known as clearance revenues, were meant to be transferred to the Palestinian treasury each month. But, as with the permit system, Israel has often used them as a lever against the West Bank, delaying or withholding payments. For Habbas, treating the Palestinian economy as separate from Israel's is misleading. "We are talking about a system in which Israel is dominating, and imposing severe restrictions in order to control and manage the Palestinians," he said. Accelerated collapse In the months before 7 October, a fifth of the West Bank's labour force crossed into Israel for work. Clearance revenue, another major component of the Palestinian economy, accounted for about 70 percent of the PA's total income. Immediately after the attack, the Israeli government pulled both levers, revoking all permits and withholding funds. Misyef Misyef of the Palestine Economic Policy Research Institute said the sudden loss of both private wages and public revenue hit the entire West Bank, including those working inside the territory. Israel killing Palestinian children in the West Bank at highest rate since 1967, B'Tselem says Read More » "The private sector is suffering and cannot sell their product because the purchasing power of the family is now very low," he told MEE. Majd and his family are among the hundreds of thousands bearing the brunt of the closures. Before the war, he had spent six years working in construction around Tel Aviv, earning between 7,000 and 8,000 shekels a month. The work was gruelling – on the road by 3am and home only in the evening – but it came with insurance, and he was able to save about half of what he earned. Through the first year of closures, those savings kept his family afloat. As the money ran out, the father of two twice jumped a wall near Jerusalem, staying in Israel for several weeks at a time to work illegally. "I looked for jobs here, and I couldn't find anything," he said, adding that "when there is a pressure on you to provide, you have to think of a way. " Crossing without a permit was common before the war – an estimated 50,000 Palestinians worked without one – but it has become far more dangerous. Alongside the arrests, around 50 men have been killed. Israel's national security minister, Itamar Ben Gvir, said the shooting of labourers was "starting to bring the numbers down". For his third crossing, Majd chose the truck after being told it would be safer. "No one sees you, so at least you don't get shot," he said. 'There's no country that has 15 percent unemployment … in Palestine, we're now talking about 30 percent' - Misyef Misyef of the Palestine Economic Policy Research Institute Even so, Majd and the other labourers were arrested and held at a police station in a nearby settlement. Those without prior convictions, including him, were released the next day and made to walk home past settlements in the early morning. Nearly three years on from the initial closures, the ban shows no sign of being lifted. Israel has restored about 7,000 permits in industries it deems critical, but the vast majority of Palestinians remain unable to work. Misyef underlined how far the situation had deteriorated: "This has not happened in any economy anywhere in the world," emphasising that "there's no country that has 15 percent unemployment … in Palestine, we're now talking about 30 percent. " Such widespread joblessness has helped push the poverty rate to more than double its pre-war level, from 12 percent to 28 percent. Today, Majd gets by on what little his father can spare, unsure whether he will risk the journey again. His children weigh most heavily on him. "What's going to happen to them in the future? I am worried I am not able to provide what they need," he said. His father walked by with a small herd of sheep – now the only source of income for a once financially comfortable family. "I am depressed from everything that happened," he said. "I have become like a dead body. " Occupation Jerusalem News Post Date Override 0 Update Date Mon, 05/04/2020 - 21:19 Update Date Override 0

Economic · Economic

NATO foreign ministers to meet Gulf Arab counterparts to discuss Hormuz tensions NATO foreign ministers will meet Gulf Arab counterparts on Tuesday to address the stalemate over reopening the Strait of Hormuz, including a Franco-British proposal for a multinational maritime mission that Iran has so far dismissed. The meeting on the sidelines of a NATO summit in Ankara will bring together ministers from Bahrain, Kuwait, Qatar and the United Arab Emirates following weeks of tensions in the strategically important waterway despite an interim US-Iran peace deal. The United Kingdom Maritime Trade Operations agency (UKMTO) said early on Tuesday that a tanker was struck east of Oman's Limah. Axios reported earlier that Iran's Revolutionary Guards fired at least two missiles at commercial ships transiting the Strait of Hormuz. "In the Gulf region, Bahrain, Kuwait, Qatar, and the United Arab Emirates were directly targeted by Iranian attacks this spring," Belgian Foreign Minister Maxime Prevot said before the meeting. "Their stability and ours are inextricably linked. This goes far beyond the Strait of Hormuz alone, however crucial it may be for Europe’s energy security," he added.

Economic · Economic

Uptick in wages alongside inflation is what central bank wants to see to persist with lifting interest rates

Economic · Economic

Czech inflation slowed more than expected below target last month, underscoring the central bank’s monetary-policy dilemma after it raised interest rates.

Economic · Economic

The European Central Bank is navigating an uncertain economic situation even as the US and Iran move closer to a lasting peace deal, according to Governing Council member Fabio Panetta.

Economic · Economic

Indian stock markets traded higher on Tuesday, extending gains for a fifth consecutive session. Oil prices remained near pre-war levels, and foreign investors continued their buying trend. Sensex and Nifty both saw upward movement, with broader markets also participating in the rally. Certain sectors like IT advanced, while others experienced declines. Experts anticipate an uptrend supported by economic fundamentals and favorable interest rates.

Economic · Economic

An “unknown projectile” struck and caused a fire on an oil tanker off the coast of Oman near the Strait of Hormuz on Monday, British maritime security agency UKMTO said. The incident occurred near one of the world’s most important energy shipping routes, despite a ceasefire between the United States and Iran and ongoing efforts to secure a lasting peace agreement. The United Kingdom Maritime Trade Operations (UKMTO) said the incident took place about 8 nautical miles (15km) east of Limah,...

Economic · Economic

Kusumgar plans a ₹650 crore offer for sale, reducing promoter stake to 75.4%. The engineered fabrics manufacturer boasts strong EBITDA margins, exceeding its listed peers. Revenue declined in FY26 due to deferred orders and US tariffs impacting exports. Operating cash flow improved significantly after a deficit in the prior year. Investors with high-risk appetite may consider this issue for long-term.

Economic · Economic

Goyal will visit Spain, Belgium and Finland on July 14-15 with a delegation of business leaders as part of preparations for implementing the trade pact. He is also scheduled to meet EU Trade Commissioner Maros Sefcovic in Brussels. "We have already started marketing Indian goods and services so that we are future-ready to get the best out of the FTAs that we have finalised," Goyal said at an event organised by the Council for Leather Exports.

Economic · Economic

Gold was little changed as traders awaited minutes from the Federal Reserve’s last meeting for fresh insights into the path for US interest rates.

Economic · Economic

New Zealand’s central bank is poised to raise its key interest rate this week, most economists and traders reckon, beginning a gradual unwinding of stimulus as it aims to head off emerging inflationary pressures.