As the nation contended with high inflation, high unemployment and unrest before the war, it became more than just an oil exporter.
Category: Economic Conditions and Trends
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Fallout of War Piles Economic Pain Onto Europe’s Political Stress
The New York Times – Business:Europe is finding itself on the outs with Russia, China and the U.S., in what’s amounting to its very own “Mean Girls” moment.
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Europe Braces for a Spike in Inflation
The New York Times – Business:Investors are betting that the European Central Bank and the Bank of England will raise interest rates this year.
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Fed Minutes Show Officials in No Rush to Cut as Iran War Scrambled Outlook
The New York Times – Business:The conflict in the Middle East has left the Federal Reserve braced for higher inflation, upending expectations about if officials will restart interest rate cuts.
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New Owner of Shopping Plaza in Kansas City Pitches a $1.5 Billion Rescue Plan
The New York Times – Business:The Country Club Plaza’s sale and turnaround plans come at a consequential economic time for Kansas City, Mo., which will soon lose the Chiefs football team.
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Can This Russian Bakery Survive a 3,500% Tax Increase?
The New York Times – Business:The challenges faced by a small-business owner near Moscow highlight how Russia’s war-drained economy is on the doorstep of a major crisis.
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War in Iran Will Push U.S. Inflation Above 4 Percent, O.E.C.D. Forecast Says
The New York Times – Business:Higher energy prices and uncertainty over the war in the Middle East will boost inflation and weigh on economic growth, a new forecast says.
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Asia Is Getting Crushed Between Oil Prices and the Dollar
The New York Times – Business:From India to Southeast Asia to South Korea, currencies are crumbling as governments race to secure fuel that is priced in American money.
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As Gas Prices Spike, California Is Hit Hardest
The New York Times – Business:A gallon has climbed to nearly $6 in the state, about $2 above the national average.
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Energy Attacks in War on Iran Could Turn Economic Shock Into Long-Term Damage
The New York Times – Business:A new phase targeting oil and gas infrastructure in the Persian Gulf threatens to hurt businesses and customers around the world for months or even years.
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As War Disrupts the Gulf, India’s Growth Story Faces New Risks
The New York Times – Business:Generations of Indian workers and businesses have turned the Arab side of the Gulf into a vital appendage of their own country.