Countries across Asia are weighing up work-from-home policies and stimulus measures enforced during the COVID pandemic, as they scramble to respond to global fuel shortages triggered by the Iran war.
The Western allies trying to negotiate a way to protect the Strait of Hormuz for energy shipping face a stark reality: a similar effort in the Red Sea that started years earlier cost billions of dollars and ultimately failed against Yemen's Houthis.
Stocks rose and oil fell on Wednesday on reports the U.S. is seeking a month-long ceasefire in its war on Iran and had sent a 15-point plan to Iran for discussion, raising hopes for a breakthrough that could help restore oil exports from the Gulf.
The Iran war is already taking a toll on major economies around the world, according to business surveys on Tuesday (Mar 24) which showed how a surge in energy prices and rising uncertainty were dampening activity and pushing inflation expectations higher.
Chinese automaker BYD more than tripled its European Union car sales in the first two months of 2026, industry data showed on Tuesday, as battery-electric vehicles captured 18.8% of the market even as overall registrations edged lower.
Iran launched multiple waves of missiles at Israel, the Israeli military said, after US President Donald Trump postponed the bombing of the Islamic Republic's power plants and energy infrastructure because of what he described as productive talks with Iranian officials.