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Analysis-Soaring costs, fuel shortage fears drive Pakistan to electric motorbikes

Analysis-Soaring costs, fuel shortage fears drive Pakistan to electric motorbikes

By Ariba Shahid and Sudarshan Varadhan ISLAMABAD/SINGAPORE, April 7 (Reuters) - Days after Iran effectively blocked shipping through the Strait of Hormuz following the start of U.S. and Israeli attacks in late February, two Pakistani electric motorbike outlets 1,400 km (875 miles) away found
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Seeking signals from the noise

Seeking signals from the noise

By Jamie McGeever ORLANDO, Florida, April 6 (Reuters) - Wall Street and the Asian stock markets that were open ticked higher on Easter Monday, as investors shrugged off another rise in oil prices and more belligerent rhetoric from U.S.
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India's services growth slows to 14-month low as Middle East war hits demand, PMI shows

India's services growth slows to 14-month low as Middle East war hits demand, PMI shows

BENGALURU, April 6 (Reuters) - India's services sector grew at its weakest pace in 14 months in March as the Middle East war dampened domestic demand, a survey showed on Monday, though overseas orders hit a near record while input cost pressures were at their most intense since mid-2022.
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India seen holding rates as 'Goldilocks' phase gives way to stress

India seen holding rates as 'Goldilocks' phase gives way to stress

By Jaspreet Kalra MUMBAI, April 6 (Reuters) - India’s central bank is expected to keep interest rates on hold on Wednesday as policymakers assess the fallout from the war in Iran, which threatens the South Asian economy and has battered its currency and bond markets.
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India's RBI seen looking past muted overnight rates, avoid liquidity drain, bankers say

India's RBI seen looking past muted overnight rates, avoid liquidity drain, bankers say

By Dharamraj Dhutia MUMBAI, April 7 (Reuters) - India's central bank is likely to allow overnight interbank rates to stay near the floor of the policy corridor for longer and refrain from draining liquidity to avoid unsettling an already fragile debt market sentiment, bankers said.
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Indian LPG Ships Navigate Gulf Amidst Middle East Tensions

Indian LPG Ships Navigate Gulf Amidst Middle East Tensions

Recent tracking data from LSEG and Kpler indicates that two more Indian-flagged liquefied petroleum gas (LPG) tankers have departed the Gulf, carrying fuel to a South Asian nation. This movement occurs amidst significant disruptions in the Strait of Hormuz due to the U.S. and Israeli conflict with Iran, which has severely impacted shipping routes. Despite these challenges, Iran has stated that non-hostile vessels can transit the waterway if they coordinate with Iranian authorities. The total number of Indian LPG carriers that have successfully crossed the Strait now stands at eight, with several already reaching India. The country, being the second-largest LPG importer globally, is facing severe gas shortages, prompting the government to prioritize household supplies over industrial use.
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Bourbon demand is down and tariffs aren't helping. But distillers keep building

Bourbon demand is down and tariffs aren't helping. But distillers keep building

By Nicholas P. Brown and Emma Rumney BARDSTOWN, KY, April 7 (Reuters) - Like many whiskey distillers, Heaven Hill Brands is rolling back bourbon production this year, as demand lags.
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Middle East war means 'all roads' lead to higher prices, slower growth, IMF chief says

Middle East war means 'all roads' lead to higher prices, slower growth, IMF chief says

By Andrea Shalal WASHINGTON, April 6 (Reuters) - The war in the Middle East will lead to higher inflation and slower global growth, the head of the International Monetary Fund told Reuters on Monday, ahead of a fresh forecast for the world economy planned by the global lender for next week.
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Dollar kept aloft as another Trump deadline looms

Dollar kept aloft as another Trump deadline looms

SINGAPORE, April 7 (Reuters) - The dollar stood just shy of recent highs on Tuesday as traders counted down to a U.S.-imposed deadline for Iran to open the Persian Gulf to shipping or face attacks on its infrastructure.
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India makes first Iranian oil buy in seven years with no payment problems

India makes first Iranian oil buy in seven years with no payment problems

By Nidhi Verma April 4 (Reuters) - Indian refiners have purchased Iranian oil amid the Middle East conflict that has disrupted supplies through the Strait of Hormuz, the oil ministry said on Saturday.
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India Resumes Iranian Oil Imports Amid Middle East Supply Disruptions

India Resumes Iranian Oil Imports Amid Middle East Supply Disruptions

India has resumed purchasing oil from Iran for the first time in seven years, following supply disruptions caused by the U.S.-Israel conflict. The Indian oil ministry announced that refiners have secured their crude oil requirements, including Iranian oil, without facing payment issues. This development comes after the U.S. temporarily lifted sanctions on Iranian oil to alleviate global supply shortages. India, the world's third-largest oil importer, had ceased Iranian oil imports in 2019 due to U.S. sanctions. The recent purchase includes 44,000 metric tons of Iranian liquefied petroleum gas, which arrived at the port of Mangalore.
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Aid groups warn Iran war is hindering food and medicine from reaching millions

Aid groups warn Iran war is hindering food and medicine from reaching millions

Aid groups are warning that the war in the Middle East has upended their ability to get food and medicine to millions in need and that more people will suffer if the violence continues