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International Energy Agency head says global economy faces ‘major, major threat’ because of Iran war

WELLINGTON, New Zealand, March 23, 2026 (AP) — The head of the International Energy Agency said Monday that the global economy faces a “major, major threat” because of the Iran war. “No country will be immune to the effects of this crisis if it continues to go in this direction,” Fatih Birol told Australia’s National Press Club in Canberra on Monday. He said the crisis in the Middle ⁠East has had a worse combined impact than the two oil shocks of the 1970s and the effect on gas markets of the Russia-Ukraine war. His comments came as Israel launched a

Gold futures plunge Rs 8,089 to Rs 1.36 lakh/10g on global selloff, inflation fears

New Delhi, Mar 23 (PTI) Gold prices plunged sharply by Rs 8,089 to Rs 1.36 lakh per 10 grams in futures trade on Monday, tracking a global selloff amid rising inflation fears and a firm US dollar. On the Multi Commodity Exchange, the yellow metal for April delivery slumped by Rs 8,089, or 5.6 per cent, to Rs 1,36,403 per 10 grams. Last week, gold had dropped Rs 13,974, or 8.82 per cent, to close at around Rs 1.44 lakh per 10 grams on the commodities bourse. Analysts said the precious metal opened with a sharp gap down and is

Iran points at tit for tat retaliation if power plants targeted, statement

DUBAI, March 23 (Reuters) – Iran will retaliate to an attack on its electricity sector ​by targeting Israel’s power plants as ‌well as power plants supplying U.S. bases with electricity in regional countries, a statement ​by the Revolutionary Guards on ​Monday said. The statement seemingly retracted earlier threats to ⁠desalination plants in the region, ​which are crucial for providing drinking water in ​Gulf countries. “The lying … U.S. President has claimed that the Revolutionary Guards intends to attack the ​water desalination plants and cause hardship ​to the people of the countries in the ‌region,” ⁠the statement shared on state media

Rupee nears 94/USD, down 41 paise to record low of 93.94 in early trade

Mumbai, Mar 23 (PTI) The rupee continued its slide in the early trade on Monday, losing 41 paise to slump to a record low of 93.94 against the US dollar as the raging war in West Asia kept global crude oil prices elevated, and the greenback remained strong. Sustained foreign fund outflows and a crash at the domestic equity markets in the morning session further weakened the local unit, forex traders said. At the interbank foreign exchange, the local unit opened at 93.84 against the US dollar before sliding further to its record low of 93.94, down 41 paise from

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