Latest Business News
Drone Attacks Hit Refineries on Day Six of US-Israel-Iran War
Iranian drone strikes targeted a refinery complex in Bahrain, sparking a fire that was extinguished, but operations continue, highlighting energy infrastructure vulnerability. The World Health Organization shut down its emergency global logistics hub in Dubai due to the conflict.
Stock markets show volatility with UK and US indices rising slightly, while Asian markets tumbled.
UK Deploys Jets to Qatar Amid Escalating Middle East Conflict
The UK announced plans to send jets to Qatar as the US-Israel war with Iran enters its sixth day. Stranded travelers report chaotic journeys home, with repatriation flights arriving in the UK.
Global military deployments intensify alongside economic fallout.
Global Stock Markets Volatile Over Prolonged War Fears
Stock markets in the UK and US rose slightly, but Asian markets tumbled due to fears the US-Israel-Iran conflict may drag on. President Trump deemed certain outcomes unacceptable as fighting impacts economies worldwide.
Taxpayer costs spark widespread concern.
UK Wholesale Gas Prices Nearly Double from Conflict Shock
UK wholesale gas prices shot up nearly double in the first days of the week, halfway to 2022 Russia-Ukraine levels. If sustained, higher energy bills expected by July.
Economics editor Faisal Islam warns of profound market impacts.
Urea Prices Surge as Petrochemical Byproduct from Gulf Tensions
Prices of urea, a Gulf petrochemical byproduct, have shot up due to the US-Israel-Iran war. This reflects broader energy market disruptions from regional strikes.
Global economy faces ongoing volatility.
Business Mobilization Hits 189 Groups Backing WTO Reform
189 chambers of commerce and associations worldwide urge WTO outcomes at MC14 for reform and e-Commerce Moratorium renewal. Over 44 new signatories joined in the past week amid trade fragmentation fears.
Initiative coordinated by International Chamber of Commerce signals broad support.
WTO E-Commerce Moratorium Renewal Critical for MSMEs
Businesses warn lapsing the Moratorium on Customs Duties on Electronic Transmissions would add trade uncertainty, hurting MSMEs in cross-border e-commerce. It prevents tariffs on digital tools, content, and data flows.
Renewal is a key MC14 priority.
Trump Warns Iran Regime Crumbling in Critical Conflict Phase
President Trump stated the Iran regime is crumbling as the conflict enters a critical phase. Fox Business panel discusses market volatility from his Iran strategy and rising oil prices.
AI stocks surge amid broader economic shifts.
ICC Studies Warn of Devastating WTO Dissolution Impacts
Oxford Economics reports commissioned by ICC detail severe effects of WTO collapse on developing economies like Brazil, India, and Indonesia. 2024 regional and 2025 country-level analyses confirm damaging consequences.
Highlights urgency for MC14 action.
WTO's Hidden Value Essential for Global Business Competitiveness
ICC brief emphasizes WTO's daily technical work and agreements as cornerstones for business beyond tariffs. Multilateral system quietly enables trading for economies worldwide.
Undermining it risks fragmentation.
Oil Prices Spike Fuels Investor Concerns in War-Torn Markets
Rising oil prices from US-Israel-Iran war contribute to market volatility, with investors weighing prolonged disruptions. Energy infrastructure strikes like Bahrain refinery amplify fears.
Global economy braces for sustained impacts.
Global Business Calls for Action at WTO MC14 Ministerial
Chambers spanning every region back ICC's Call for Action ahead of WTO's 14th Ministerial Conference. Aims to counter mounting trade system fragmentation.
Momentum builds for concrete government outcomes.