Economy

US borrowed $1 trillion in five months

The US federal budget deficit has increased by $1 trillion since last October, the Congressional Budget Office has estimated

‘This is going to hit all of us’: How far does the echo of the Middle East war reach?

Disrupted Gulf energy routes are choking off LPG flows to South Asia, leaving canteens and hotels scrambling for cylinders

Porsche profits crash after costly EV strategy U-turn

German luxury carmaker Porsche AG has reported a dramatic drop in profits after overhauling its product strategy

Japanese auto parts makers eye Russian aluminum

The escalating war in the Middle East has disrupted the aluminum trade, pushing Japanese auto parts makers into talks with Russia’s Rusal

US may take some oil sanctions off

Donald Trump emphasized that the US may even refrain from reinstating them

Tankers Begin Crossing Strait of Hormuz

No ships were tracked to be moving in the opposite direction