The Sen Times

June 12 (Reuters) India is preparing for a wider-than-expected budget deficit this year, Bloomberg News reported on Friday, citing an official familiar with the matter, as the war in Iran raises fuel subsidy costs and pressures government finances. Reuters could not immediately verify the report and has sought comment from Indias finance ministry. The country, the worlds third-largest oil importer and consumer, is willing to let the budget gap widen by as much as 50 basis points to 4.8% of GDP

March 22 (Reuters) British Prime Minister Keir Starmer summoned a national emergency meeting on Monday to deal with the economic fallout from the escalating war in Iran, as Britains government borrowing costs surged to their highest level since the global crisis of 2008. The storm in financial markets intensified in early trade this week after Iran said it would strike the energy and water systems of Gulf neighbours if U.S. President Donald Trump follows through with a threat to hit Irans elect

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 Australias 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-Uk

WASHINGTON, March 10, 2026 (AP) The war with Iran is doing collateral damage to the world economy. The conflict is driving up energy and fertilizer prices; threatening food shortages in poor countries; destabilizing fragile states such as Pakistan; and complicating options for the inflation fighters at central banks like the Federal Reserve. Causing much of the pain: Iran shut down the Strait of Hormuz through which a fifth of worlds oil passes after the U.S. and Israel launched missile strik

WASHINGTON, March 3, 2026 (AP) The U.S. and Israeli attacks on Iran add yet more question marks around a U.S. economy already buffeted by on-and-off tariffs, weak hiring, and lingering inflationary pressures. The war has already raised oil prices and could lift prices at the pump as early as this week, but the ultimate impact on the economy and inflation will depend on the length and severity of the conflict, economists say. Should it wind down in a week or two, its economic effects would be mi