East Conflict

• Singapore has completed a comprehensive review of its political salary framework but deferred any final decision citing impacts from the ongoing Middle East conflict. • The announcement was made by Minister Chan Chun Sing, highlighting caution amid global economic uncertainties affecting the city-state's finances. • This deferral reflects Singapore's policy of linking political remuneration to economic performance and national circumstances during crises.

• India's manufacturing PMI increased to 54.7 in April from 53.9 in March, indicating continued expansion in the sector despite external headwinds. • The uptick reflects strong demand and production growth, though inflationary pressures have intensified due to ongoing Middle East geopolitical tensions affecting commodity prices. • A PMI above 50 signals economic expansion, and the improvement suggests Indian manufacturers are maintaining resilience in production activity and order books.

Rise of 3% in April, the fastest annual pace in 11 months, leaves typical property worth £278,880, says NationwideBusiness live – latest updatesHouse price growth in the UK has surprised estate agents and economists by jumping in April at the fastest annual pace in 11 months, according to Nationwide.The UK’s biggest building society said its mortgage data showed that house prices unexpectedly rose by 3% in April on a year earlier, from 2.2% in March, leaving the typical UK property worth £278,880. Continue reading...

The Israeli military began carrying out strikes in eastern Lebanon on Monday, expanding the scope of its bombing campaign during a ceasefire that has failed to fully halt hostilities with Lebanese armed group Hezbollah.

Average price dips back below £300,000 after higher energy costs have knock-on effect on mortgage ratesUK house prices fell in March, as the housing market lost momentum amid uncertainty over the conflict in the Middle East and the impact on the economy and interest rates.Figures from Halifax, which is part of Lloyds – Britain’s biggest mortgage lender – showed property prices dipped by 0.5% in March compared with a month earlier. As a result, the average price of a home slipped back below £300,000, to £299,677, after first crossing the milestone in January. Continue reading...

Anutin Charnvirakul warns country is vulnerable over reliance on oil imports as countries across Asia introduce conservation measuresThailand’s prime minister, Anutin Charnvirakul, has called on the public to conserve energy, urging work-from-home measures and carpooling, as he warned of the impact of the conflict in the Middle East.In a statement posted on social media, Anutin said Thailand was exposed to the crisis because of its reliance on imported oil and gas, and the country could not be complacent. Continue reading...

Archbishop of Canterbury to issue urgent call for peace, as PM exhorts Britons to ‘choose community over division’Religious and political leaders in the UK are highlighting the conflict in the Middle East in their Easter messages, calling for “peace, justice and freedom” in the region.The archbishop of Canterbury will deliver her first Easter sermon at Canterbury Cathedral on Sunday as the Church of England’s top bishop. Dame Sarah Mullally will call “with renewed urgency” for peace in the Middle East and pray for “an end to the violence and destruction” in the region. Continue reading...

Biggest rises were in vegetable oil and sugar prices, which increased by 5% and 7% respectivelyVisual guide to the Gulf fertiliser blockadeFood prices rose sharply in March as war in the Middle East drove up energy prices and freight costs around the world, a UN report says.An index of food commodity prices by the UN’s food and agriculture organisation increased by 2.4% in March, its second consecutive monthly rise. Continue reading...

‘Ukraine has expertise concerning sea waterways, and the defence and reopening of maritime traffic,’ says president. What we know on day 1,500Volodymyr Zelenskyy offered on Thursday to provide Ukraine’s expertise in dealing with freedom of navigation in the Black Sea to those countries considering how to keep the strait of Hormuz open amid the conflict in the Middle East. The Ukraine president, speaking in his nightly video address, said the foreign minister, Andrii Sybiha, had taken part in a virtual meeting devoted to reopening the strait of Hormuz, attended by about 40 countries. “Ukraine has relevant expertise concerning sea waterways, and the defence and reopening of maritime traffic,” he said. “If [our] partners are ready to act, we will consider how we can strengthen them, how we can apply our expertise, knowledge and technological potential.”Russia’s army recorded no territorial gains on the frontline in Ukraine in March, for the first time in two and half years, AFP analysis of data from the Institute for the Study of War (ISW) showed. The Russian army’s advances have been slowing since late 2025 due to Kyiv’s localised breakthroughs in the south-east, and losing ground in March and February on the southern section of the frontline, between the Donetsk and Dnipropetrovsk regions, the analysis showed. Across the entire frontline, Ukrainian forces managed to recapture 9 sq km in March.North Korea’s leader, Kim Jong-un, gave “field guidance” at the Memorial Museum of Combat Feats at the Overseas Military Operations, which is under construction , state media KCNA said. The museum in Pyongyang will be a place to commemorate the fallen soldiers sent to support the Russian army in the war in Ukraine. The construction of the museum is almost complete and Kim said the opening ceremony would be held in mid-April, marking the first anniversary of the deployment of the North Korean soldiers.Six Ukrainian children will be returned from Russia to their families in Ukraine, the White House said on Thursday, citing efforts by Melania Trump to expedite their return. A seventh Ukrainian child will also be returned to their family later this month, the first lady’s office said in a statement. Ukraine says almost 20,000 children have been illegally sent to Russia and Belarus, where they are sometimes subject to military training and forced to fight against their own country’s troops.Russian strikes across Ukraine on Thursday killed at least two people and wounded dozens, officials said, as Moscow stepped up its attacks amid stalled peace talks. In the south-eastern Kherson region, Russia attacked “with artillery, mortars and UAVs”, the regional prosecutor’s office said on social media. A 42-year-old man was killed when a drone hit a civilian car, and 16 others – including a teenage boy and three police officers – were wounded in air attacks and artillery shelling, it added. In the Chernihiv region, north of the capital Kyiv, Russia attacked with a ballistic missile, the head of Chernihiv’s military administration, Dmytro Bryzhynsky, said on Telegram.Russian forces maintained a daylong barrage of drone strikes on Kharkiv, Ukraine’s second largest city, on Thursday, injuring at least two people, local officials said. Kharkiv’s mayor, Ihor Terekhov, posted reports on Telegram throughout the day and well into the evening, noting strikes in four city districts. One city official said there had been at least 20 drone strikes. He said some had triggered fires and two people had been injured in an evening attack, including an eight-year-old girl.Russian forces carried out 129 attacks on Ukrainian gas and heating facilities during the recent 151-day heating season, the state oil and gas firm Naftogaz said on Thursday. “The Russians hit pipelines, gas production, underground storage facilities, heating systems – everything that Ukrainians depend on for heat and gas,” it said in a statement. Continue reading...

Australian treasurer says Iran war having ‘extreme impact on global economy’ as Albanese to address nation about fuel crisis Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastJim Chalmers has unveiled a suite of Covid-era support measures including tax deferrals for businesses struggling with soaring fuel prices, in the latest sign the government is preparing for a more severe economic downturn from the US-Israel war on Iran.Addressing the media on Wednesday morning, the treasurer said “the war in the Middle East is having an extreme impact on the global economy, [and[ Australians and Australian small businesses are paying the price for that”. Continue reading...

Washington-based fund says rising energy and food costs will hit economies worldwide and could leave lasting scarsThe International Monetary Fund has warned that “all roads lead to higher prices and slower growth worldwide” should the conflict in the Middle East continue to throttle the amount of oil, gas and fertiliser making its way out of the Gulf.In a stark message that countries on all continents will be affected, the Washington-based organisation said a rise in energy and food costs would harm economic growth this year and could leave lasting scars on the global economy. Continue reading...

Organisation for Economic Cooperation and Development says UK economy will grow by just 0.7% this yearThe conflict in the Middle East will damage the UK’s economy more than any other industrialised nation, according to analysis by the Organisation for Economic Cooperation and Development (OECD), which warned over rising inflation.In the first major assessment by a leading international thinktank of the economic impact from the attack on Iran, the OECD said the UK economy would grow by just 0.7% this year, compared with its last forecast, made in December, of 1.2% for 2026. Continue reading...

UK clothing and homeware retailer working on assumption that war could last three monthsBusiness live – latest updatesNext has warned that the war in the Middle East will add £15m to its costs on the assumption it will last three months, adding that prices will have to go up if the conflict persists beyond that.The UK clothing and homeware retailer said it was currently offsetting the additional costs on fuel and air freight with savings elsewhere and it did not expect any affect on profits for the year ahead. Continue reading...

• The Trump administration submitted a 15-point ceasefire proposal to Iran on March 25, with details including dismantling of Iranian nuclear capabilities and Iran's commitment never to pursue nuclear weapons, according to Israeli media reports. • President Trump stated the US is in contact with "the right" Iranian interlocutors and that Iran wants to make a deal "so badly," while approximately 290 US service members have been wounded since Operation Epic Fury began against Iran. • The diplomatic initiative has sparked market optimism, with oil prices falling more than 3% and Asian shares gaining on de-escalation hopes, though Iran's military dismissed Washington as not being in a position to negotiate.

• The Dow Jones Industrial Average fell 0.4% or 203.72 points to 46,021.43 on Thursday, marking its lowest close of 2026 and closing below its 200-day moving average, with 22 of 30 components ending in negative territory. • The S&P 500 declined 0.3% to 6,606.49, reflecting its lowest close in four months, while the Nasdaq Composite slipped 0.3% to 22,090.69; all 11 sectors ended in negative territory. • Market weakness was driven by the ongoing Iran conflict and rising Treasury yields, which have climbed amid concerns about energy supply disruptions and inflation, causing traders to abandon bets on interest-rate cuts this year.

Other delivery and transport companies such as Uber, DoorDash and Australia Post are weighing whether to charge moreFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastRideshare giant DiDi has raised its prices to cover soaring petrol costs, becoming one of the first major companies after the airlines to charge Australian consumers more as a result of the conflict in the Middle East.Uber, DoorDash and Australia Post were among the delivery and transport companies weighing whether to add charges, as small businesses hike fees. Continue reading...

American Airlines shares dropped 31% year-to-date, United Airlines 23%, and Delta Air Lines 16% amid skyrocketing fuel prices from Iran tensions. Cruise operators Carnival Corporation and Norwegian Cruise Line faced similar pressures from higher energy costs. This contrasts with defense stocks like Lockheed Martin and Northrop Grumman rallying on expanded orders. Investors anticipate prolonged impacts on travel sectors unless conflict resolves swiftly.

US Defense Secretary Pete Hegseth stated Friday that Iran is exercising 'sheer desperation' in counterattacks against the US and Israel, following the crash of a refueling plane in western Iraq that killed six airmen. The incident raises the total US troop deaths in the operation to 13, with officials confirming no hostile fire involvement. Hegseth's remarks precede reports of 2,500 Marines and a warship deploying to the region, signaling escalation. Analysts warn of prolonged conflict risks amid rising casualties and regional instability.