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The fast-expanding war between the United States, Israel, and Iran has captured global attention largely because it is disrupting oil and gas supplies from the Persian Gulf. Yet another resource is now emerging as far more critical to the survival of the region’s societies. Water
Indian technology stocks have seen an unprecedented rout over the past few weeks over fears of artificial intelligence upending the traditional outsourcing model that powers the country's $300bn (£223bn) back-office industry. The sell-off - part of a global correction in traditional software and
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IMF's Georgieva flags inflation risks if oil prices stay elevated amid Middle East conflict
Kristalina Georgieva, the IMF's Managing Director, has expressed deep concerns regarding the escalating tensions in the Middle East. She warns that ongoing hostilities could trigger an alarming rise in global inflation. A potential 10% rise in oil prices may lead to an uptick of 40 basis points in inflation rates worldwide.
TOKYO: IMF Managing Director on Monday warned of inflation risks from the Middle East conflict, saying a 10% increase in , if persistent through most of the year, would result in a 40-basis-point increase in global inflation."We are seeing resilience tested again by the new conflict in the ," Georgieva said, speaking in a symposium hosted by Japan's finance ministry.
"My advice to policymakers in this new global environment is think of the unthinkable and prepare for it," she said.
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Source: EconomicTimes
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