Tariff USA: Donald Trump signed a proclamation revising tariffs on selected metal-related imports to better address national security concerns, encourage investment in U.S. agriculture, housing, and manufacturing, and support domestic production of related goods. Under the revised measures, tariffs on certain agricultural machinery, including combines and harvesters, have been reduced from 25% to 15%. The proclamation also broadens the scope of industrial equipment eligible f

Rising Energy Costs Push Eurozone Business Activity to Sharpest Decline in Over Two Years EUROPE: Economic activity across the Eurozone contracted at its fastest pace in more than two years during May 2026, according to the latest S&P Global Flash PMI survey. The Composite PMI fell to 47.5 from 48.8 in April, marking a second consecutive month of contraction and its lowest level since October 2023. Rising living and energy costs weakened demand, particularly within the servic

Vietnam and Bangladesh Strengthen Trade Cooperation with Target to Double Bilateral Trade VIETNAM: Vietnam and Bangladesh reaffirmed their commitment to expanding economic and trade cooperation during the Vietnam–Bangladesh Business Forum and B2B Matching 2026 event held in Dhaka. The forum attracted nearly 200 delegates, including more than 25 Vietnamese companies and over 100 Bangladeshi businesses. Bilateral trade has consistently exceeded US$1.1 billion despite global eco

China’s First-Tier Property Markets Show Recovery While Lower-Tier Cities Continue to Struggle China: China’s property markets is showing signs of recovery, led by stronger demand in first-tier cities such as Shanghai, Beijing, Guangzhou, and Shenzhen, while lower-tier cities continue to face high housing inventory and weaker demand. Shanghai recorded 31,215 pre-owned home transactions in March 2026, the highest monthly level since March 2021, followed by nearly 29,000 transa

Financial chart GERMANY: The euro zone economy recorded modest growth in the first quarter, according to a preliminary estimate released on Thursday, providing the first indication of economic activity following the onset of the Iran conflict. As an energy-importing region, the euro zone is considered particularly exposed among advanced economies to disruptions in oil, gas, and other shipments passing through the Strait of Hormuz, which began in late February. Eurostat report

Flag GERMANY: Germany recorded stronger-than-expected economic growth in the first quarter of 2026, despite energy price shocks linked to the Iran war, though unemployment climbed above 3 million in April. According to preliminary data from the country’s statistics office, gross domestic product (GDP) increased by 0.3% quarter-on-quarter, exceeding analysts’ expectations of 0.2%. Growth was primarily supported by higher household consumption and government spending, alongside

Economy Surges to Record Growth Taiwan: Taiwan’s economy recorded its fastest growth since 1987, expanding by 13.7% year-on-year in Q1 2026, driven by strong global demand for AI-related technology products. The growth exceeded expectations, supported by robust exports, rising investments, and improved private consumption. Tech exports accounting for over three-quarters of total shipments played a crucial role, with overall exports hitting a record high in March, reflecting t

Deepens Strategic Ties with ADB Uzbekistan: Uzbekistan has significantly strategic Ties with the Asian Development Bank (ADB), which has provided around UZS 1.2 quadrillion (US$14.6 billion) in funding through nearly 300 projects since 1995. This collaboration has supported key sectors including infrastructure, energy, healthcare, agriculture, and financial systems, contributing to the country’s ongoing economic reforms and sustainable development. Major initiatives include r

Home Improvement Sector Hit by Bankruptcies United States: The home improvement and hardware sector is facing mounting financial pressure, with DAX International Brokers Inc. filing for Chapter 11 bankruptcy while continuing operations, and Wren Kitchens abruptly shutting down all U.S. operations under Chapter 7 liquidation. DAX reported assets between USD 0.5–1 million against liabilities of USD 1–10 million, including over USD 7 million in unsecured debt, as it seeks to res

Russia’s Economy Contracts for First Time in Three Years RUSSIA: Russia’s economy contracted by around 0.3% in the first quarter of 2026, marking its first quarterly decline since early 2023. The downturn was driven by a combination of factors, including Western sanctions, high interest rates, the ongoing war in Ukraine, and temporary effects such as a VAT increase and severe weather disruptions. Key sectors such as mining, manufacturing and retail showed weakness, while corp

Middle East Crisis Middle East: The Middle East conflict has caused a major disruption in global natural gas markets, particularly due to the effective closure of the Strait of Hormuz, a key transit route for LNG shipments. This has removed nearly 20% of global LNG supply from the market, leading to a sharp tightening of supply conditions. Global LNG production declined by around 8% year on year, while exports from major producers such as Qatar and the United Arab Emirates dr

China’s Q1 Recovery Faces Growing Risks as Iran War Clouds Global Outlook CHINA: China’s economy expanded 5.0% year-on-year in the Q1 of 2026, beating forecasts and placing growth at the top end of Beijing’s full-year target range. Strong exports drove the early-year momentum, but the Iran war has raised concerns over higher energy costs, supply chain disruptions, and weaker global demand. The conflict is already pushing up input prices for manufacturers. Peng Xin, general ma

Retail sales USA: National Retail Federation projects that retail sales will grow by 4.4% in 2026 compared to 2025, reaching approximately $5.6 trillion. This forecast is based on a newly enhanced methodology developed in collaboration with Oxford Economics. The projected growth is higher than the 10-year average annual increase of 3.6%, excluding the pandemic-affected period from 2020 to 2022. Source: National Retail federation

Monetary Authority of Singapore Slightly Tightens Policy Amid Inflation Risks and Slowing Growth Singapore: The Monetary Authority of Singapore (MAS) slightly increased the rate of appreciation of its S$NEER policy band while keeping its width and midpoint unchanged, citing heightened inflation and growth risks due to evolving Middle East tensions and rising energy costs. Singapore’s GDP grew 4.6% in Q1 2026, below the expected 5.9%, and contracted 0.3% quarter-on-quarter, wh

International Monetary Fund Forecasts Slower Euro Zone Growth and Rising Inflation Amid Energy Risks Europe: The International Monetary Fund stated that Eurozone growth is expected to slow to 1.1% in 2026 from 1.4% in 2025, below the earlier 1.3% estimate, due to the impact of the Iran war and persistently high energy costs, while inflation is projected to rise to 2.6% from 2.1%. The region’s heavy reliance on energy imports, compounded by the effects of the Russia-Ukraine Wa

Energy Efficiency MIDDLE EAST: All government facilities have been instructed to implement energy conservation measures to reduce electricity consumption where feasible, as part of efforts to manage energy use amid the ongoing Middle East conflict. In a joint statement on April 8, the Ministry of Sustainability and the Environment and the National Environment Agency outlined steps such as setting air conditioners at 25°C or higher and switching off or unplugging non-essential

Saudi Arabia records increase in FDI inflows in Q4 2025 Saudi Arabia: Saudi Arabia reported foreign direct investment net inflows of SAR 48.4 billion (approximately USD 12.9 billion) in the fourth quarter of 2025, reflecting a 90 per cent increase compared to the same period in the previous year, according to data from the General Authority for Statistics. On a quarterly basis, net inflows rose by 82 per cent. Total FDI inflows reached SAR 50.6 billion (approximately USD 13.5

West Asia tensions disrupt Morbi ceramic industry; high PNG prices stall fuel shift INDIA: Ceramic manufacturers in Morbi, Gujarat, have extended their shutdown until May 1, following a sharp increase in piped natural gas (PNG) prices by Gujarat Gas Limited. The industry had halted operations on March 17 due to a fuel supply disruption linked to tensions in Iran, which affected propane-LPG imports via the Strait of Hormuz. Tile manufacturers, who rely heavily on LPG, are now

South Africa reports rise in FDI inflows in fourth quarter of 2025 South Africa: South Africa recorded foreign direct investment inflows of ZAR 41.3 billion (approximately USD 2.4 billion) in the fourth quarter of 2025, compared with outflows of ZAR 21.0 billion (approximately USD 1.2 billion) in the third quarter, according to data published by the South African Reserve Bank. The inflows were attributed to non-resident investments across sectors including media and entertain

Oman Oman: Oman recorded a 3.1% increase in non oil GDP in 2025, reaching US$74.5 billion compared to US$72.2 billion in 2024, according to data from National Centre for Statistics and Information. Non oil activities accounted for about 72.1% of total GDP, reflecting continued progress in economic diversification. The services sector remained the largest contributor, accounting for nearly 47.8% of GDP, supported by growth in financial services, transport, telecommunications a