Industrial firms reported stronger profit growth, supported by recovering manufacturing demand and targeted government stimulus measures aimed at stabilizing employment and consumption.

Analysts said sustained recovery would depend on external demand and confidence in the property sector, which continues to weigh on broader economic momentum.

The measure, ordered by Crown Prince and Prime Minister Salman bin Hamad Al Khalifa, will cover salaries of insured Bahraini workers through the Unemployment Insurance Fund, as part of a broader government response to protect employment and support small and medium-sized enterprises.

The Gulf state has faced direct and indirect economic pressure from the conflict, including damage to industrial facilities, disruptions to shipping through the Strait of Hormuz and a decline in tourism and exports. Bahrain hosts the U.S. Navy’s Fifth Fleet and has been exposed to regional security risks during the hostilities.

Central bank measures have complemented fiscal support, with authorities injecting liquidity, easing lending conditions and allowing temporary deferrals on loan and credit card payments for businesses and households.

The Central Bank of Bahrain has also made funding available to banks against collateral to maintain credit flows.Analysts say the wage-support scheme reflects a shift in labor policy from post-crisis compensation to preemptive job protection.

Economists note that preserving employer-employee relationships during short-term disruptions can reduce long-term unemployment risks and support faster recovery.“By temporarily covering wages, it gives companies breathing space during short-term disruptions and reduces the need for immediate layoffs,” said Anthony Hobeika, managing partner at MENA Research Partners.

The approach mirrors measures adopted across the Gulf during the COVID-19 pandemic, when governments used unemployment insurance systems to subsidize private-sector wages. Bahrain itself implemented a similar program in 2020, while Saudi Arabia provided partial wage support under its SANED scheme.

Despite signs of economic resilience, including 3.5% GDP growth in 2025 driven largely by non-oil sectors, Bahrain’s fiscal position remains constrained. Moody’s Investors Service recently revised the country’s outlook to negative, citing deteriorating credit metrics and risks linked to the ongoing conflict.

The war has compounded structural vulnerabilities, including high public debt levels and limited fiscal space. Bahrain’s debt stood at roughly 140% of GDP before the conflict, according to external estimates.Regional support has also emerged, with the United Arab Emirates agreeing to a five-year currency swap arrangement worth about $5.45 billion to bolster liquidity and financial cooperation.

Economists caution that while wage subsidies can be effective in cushioning short-term shocks, their success depends on being temporary and targeted to avoid distorting labor markets.

Policymakers are expected to balance immediate job protection with longer-term goals of productivity and economic diversification.

The visit marks the first state trip by a South Korean president to India in eight years and comes as both countries seek to strengthen supply chain resilience amid global economic uncertainty linked to the Iran conflict.Lee said the current level of economic cooperation between the two countries remains limited and called for a substantial expansion of ties.

Officials from Seoul said the two sides plan to upgrade their Comprehensive Economic Partnership Agreement to boost trade from $25.7 billion recorded last year.Discussions are expected to cover sectors including shipbuilding, finance, artificial intelligence and defence, with Lee also scheduled to attend business events alongside corporate leaders during his visit.

South Korea has increasingly looked to India as a key partner in diversifying supply chains, particularly as disruptions in the Middle East affect energy flows. Last month, Seoul sought increased naphtha supplies from India to offset potential shortages linked to regional tensions.

India accounted for about 8% of South Korea’s naphtha imports last year, and officials say expanding energy trade could also help address imbalances in bilateral commerce. South Korea recorded a trade surplus of $12.8 billion with India, exporting $19.2 billion worth of goods while importing $6.4 billion, according to Korea International Trade Association data.

Analysts say closer cooperation in shipbuilding could emerge as a focal point, aligning India’s employment priorities with South Korea’s industrial strengths. Consumer goods and food sectors tied to the global popularity of Korean culture are also seen as potential growth areas.

Lee is expected to travel to Vietnam after concluding his India visit, as part of a broader regional outreach strategy.

Wang told Tajani that China is prepared to work with Italy to unlock further “potential” in bilateral ties, signalling interest in deepening collaboration despite broader shifts in global trade dynamics.

China is open to expanding cooperation in areas including e-commerce, agriculture and food, healthcare and the development of industrial parks, the commerce ministry said, outlining sectors seen as key to future engagement.

The meeting reflects ongoing efforts by Beijing to sustain and diversify trade relationships with European partners, as global supply chains and geopolitical alignments continue to evolve.

The United Nations human rights office has launched the second season of its podcast series “Economies that Work for All,” advancing its push to integrate human rights principles into global economic policymaking amid growing concerns over inequality and sustainability.

The series, produced by the Office of the UN High Commissioner for Human Rights in collaboration with the UN System Staff College’s Knowledge Centre for Sustainable Development, builds on earlier discussions around the concept of a “human rights economy.” The initiative seeks to address a central question posed by UN Human Rights Chief Volker Türk: who benefits from existing economic systems.

The framing reflects a broader institutional concern that current economic structures are failing to deliver equitable outcomes. According to Türk, a human rights-based approach to economic governance places individuals and environmental sustainability at the core of decision-making, aligning policy outcomes with broader social objectives.

“Economies that Work for All” explores the intersection of economic systems and human rights, positioning the latter as a framework for addressing systemic challenges such as inequality, exclusion, and environmental degradation. The concept is also tied to the United Nations’ 2030 Agenda for Sustainable Development, which emphasizes inclusive growth and social equity.

The first season of the podcast introduced foundational ideas behind the human rights economy framework through discussions with policymakers and economists. Contributors included Mariana Mazzucato, Jayati Ghosh, Kate Raworth, Grieve Chelwa, and Epsy Campbell, who examined how rights-based approaches could reshape economic thinking and policy design.

The newly launched second season shifts focus toward implementation, examining how governments are applying these principles in practice. Through a series of weekly episodes, the podcast highlights policy initiatives across different regions, offering case studies on how human rights considerations can inform economic decision-making.

The opening episode features Spain’s Minister of Social Rights, Consumer Affairs, and the 2030 Agenda, Pablo Bustinduy, discussing national efforts to align economic policy with inclusivity and social welfare objectives. The discussion reflects broader European debates on balancing growth with social protection and equitable distribution.

Subsequent episodes examine fiscal and structural reforms in emerging and developing economies. One episode focuses on Brazil’s approach to taxation, with Poliana Garcia Ferreira from the Ministry of Finance outlining measures aimed at reducing inequality through redistributive policies. The discussion highlights the role of tax systems in addressing income disparities and supporting public services.

Another episode explores South Africa’s efforts to implement a rights-based approach to climate transition. Dorah Modise, Executive Director of the Presidential Climate Commission, discusses strategies for aligning environmental policy with social justice, particularly in the context of shifting away from carbon-intensive industries.

The series also includes a case study on Sri Lanka, where economist Ahilan Kadirgamar reflects on the country’s economic challenges and the potential for rethinking development through a human rights lens. The episode examines how past economic crises can inform more inclusive policy frameworks going forward.

Housing policy is addressed in a separate episode featuring Leilani Farha, former UN Special Rapporteur on the Right to Adequate Housing and current Global Director of The Shift. The discussion emphasizes the need to treat housing as a fundamental human right rather than a financial asset, particularly in urban environments facing affordability pressures.

The podcast initiative comes at a time when multilateral institutions are increasingly examining the social impact of economic policies. Rising inequality, climate-related risks, and uneven recovery patterns following global economic disruptions have intensified calls for policy frameworks that prioritize inclusivity and resilience.

Türk said that grounding economic decisions in human rights can enhance public trust and improve long-term sustainability. The approach, he argued, provides a structured way to align economic outcomes with broader societal goals, including poverty reduction, environmental protection, and access to essential services.

The UN’s emphasis on a human rights economy reflects an evolving policy discourse that seeks to move beyond traditional growth metrics. By integrating social and environmental considerations into economic planning, the framework aims to support more balanced and durable development outcomes.

The first episode of the second season became available on March 30, with subsequent episodes scheduled for weekly release. The series is accessible through major podcast platforms and forms part of a broader UN effort to engage policymakers, academics, and the public on issues at the intersection of economics and human rights.

Lam’s visit, his first overseas trip since assuming the presidency on April 7, is expected to deepen bilateral ties and produce multiple cooperation agreements, reflecting what both sides have described as a new phase of relations marked by stronger political trust and expanded security and economic collaboration.

The shift comes amid rising influence of security-focused leadership in Hanoi, with Lam, a former public security chief, consolidating power in a manner observers say mirrors China’s centralized governance structure.

His leadership marks a departure from Vietnam’s traditional model of collective decision-making.Analysts say Vietnam is pursuing a dual-track strategy, maintaining engagement with Western partners while increasingly adopting China-inspired policies domestically.

This includes a growing emphasis on state-led regulation, particularly in sensitive areas such as data governance and digital infrastructure.Draft policy documents indicate Vietnam is considering tighter controls over data flows, including the creation of state-run data exchanges overseen by security authorities, reflecting China’s centralized data management system.

Western governments and technology firms have raised concerns over such measures, particularly restrictions on cross-border data transfers.Technology cooperation has also intensified. Vietnam has eased earlier reservations over Chinese involvement in its telecommunications infrastructure, including potential partnerships linked to equipment providers associated with Huawei.

Discussions are also underway regarding Chinese investment in data centres and additional 5G development.The country is simultaneously expanding its national digital identification system, integrating artificial intelligence-driven surveillance networks, in a move analysts say parallels China’s approach to social monitoring and governance.

Economically, Vietnam is increasingly adopting state-driven strategies similar to China’s model, including subsidies, large-scale infrastructure projects and greater government intervention in financial markets. Proposals under consideration include a stabilization fund to support equity markets during downturns, drawing directly on Chinese precedent.

Despite these shifts, Vietnam continues to balance its geopolitical positioning, maintaining ties with the United States and other Western partners. However, China’s growing role in trade and investment is becoming more pronounced, with bilateral economic integration reaching record levels.

Experts warn that deeper alignment with China could have broader implications for Vietnam’s economic autonomy and international relationships, particularly if governance and regulatory convergence accelerates further.

The state government said wages for unskilled workers would rise to about $165 per month from roughly $120, effective April 1, marking the first such policy move in response to the economic fallout from the ongoing U.S.-Israel-Iran war.

The decision followed clashes between police and workers in Manesar, located near New Delhi and home to major manufacturing facilities including Maruti Suzuki and numerous supplier units. Authorities urged workers to resume duties peacefully after the announcement.

Workers said surging food prices, driven by disrupted gas supplies, had strained household budgets. India, the world’s second-largest importer of liquefied petroleum gas, is facing one of its most severe supply disruptions in decades, prompting the government to prioritize household consumption over industrial use.

The wage hike is expected to ease pressure on workers but add to cost burdens for automakers already grappling with higher raw material prices. Companies such as Tata Motors and Mahindra & Mahindra have raised vehicle prices, while Maruti has indicated similar steps may follow.

Industrial activity in Manesar was partially disrupted as workers boycotted shifts and staged protests. Employees reported that food costs had nearly doubled, with some migrant workers returning to their home villages due to rising expenses and uncertain supplies.

Suppliers including Munjal Showa said production was affected, while firms such as Roop Polymers reported limited disruption and a return to normal operations after the protests subsided.India’s auto sector relies heavily on migrant labor, with millions traveling to industrial clusters for work.

Industry groups warned that retaining workers has become a priority, with some companies offering meals and bonuses to prevent further departures.

Executives said supply chains could take weeks to stabilize even if geopolitical tensions ease, as disruptions to energy supplies continue to ripple through manufacturing and labor markets.

India’s rapid expansion of digital payment infrastructure is transforming the country’s informal economy, reshaping how small businesses operate and how individuals access financial services.

Driven by government-backed platforms and widespread smartphone adoption, the shift toward cashless transactions is accelerating financial inclusion while also introducing new regulatory and operational challenges.

At the center of this transformation is the National Payments Corporation of India, which operates the Unified Payments Interface (UPI), a real-time payment system that has seen exponential growth in recent years. UPI allows users to transfer money instantly between bank accounts using mobile applications, eliminating the need for traditional banking intermediaries.

According to official data released by NPCI, monthly UPI transactions have surged into billions, reflecting widespread adoption across urban and rural areas. Small vendors, street hawkers, and local service providers traditionally reliant on cash are increasingly accepting digital payments through QR codes and mobile apps.

The shift has been particularly significant in the informal sector, which accounts for a substantial portion of India’s workforce. Digital payments are enabling businesses to maintain transaction records, access credit, and integrate into formal financial systems.

This transition is seen by policymakers as a step toward improving tax compliance and economic transparency.The Reserve Bank of India has played a key role in regulating and promoting digital payment systems.

Through policy measures aimed at enhancing security and interoperability, the central bank has sought to build trust among users while encouraging innovation within the fintech sector.Private technology companies have also been instrumental in driving adoption.

Platforms such as PhonePe and Google Pay have expanded their user base by offering simplified interfaces and incentives for digital transactions. These applications have effectively bridged the gap between banking infrastructure and everyday users.Despite the progress, challenges remain.

Cybersecurity concerns are growing as transaction volumes increase, with reports of fraud and data breaches highlighting vulnerabilities within the system. Regulators have responded by introducing stricter authentication protocols and awareness campaigns to educate users about safe practices.

Another concern is digital literacy. While smartphone penetration has increased significantly, a segment of the population remains unfamiliar with digital financial tools. This gap is particularly evident among older populations and in regions with limited internet connectivity.

Addressing this issue is critical to ensuring that the benefits of digital payments are distributed evenly.The expansion of digital payments is also influencing consumer behavior. With instant payment capabilities, spending patterns are becoming more fluid, and businesses are adapting by offering digital-only discounts and services.

Analysts note that this shift is contributing to the growth of e-commerce and online service platforms.From a macroeconomic perspective, the move toward digital transactions is expected to enhance efficiency and reduce the costs associated with cash handling.

It also provides policymakers with better data for economic analysis, enabling more informed decision-making.However, the transition raises questions about data privacy and market concentration.

As large technology firms play an increasingly central role in financial transactions, concerns have emerged regarding data ownership and competitive practices. Regulators are closely monitoring these developments to ensure a balanced ecosystem.

The government has continued to promote digital payments through initiatives aligned with its broader digital economy strategy. These efforts include expanding internet infrastructure, incentivizing adoption, and integrating digital systems into public services.

Experts caution that while digital payments offer clear advantages, they should complement rather than entirely replace cash systems, particularly in regions where infrastructure remains uneven. A hybrid approach is seen as more practical in the near term.

India’s experience is being closely observed by other developing economies seeking to replicate its model of rapid digital financial inclusion. The combination of government support, private sector innovation, and user adoption has created a framework that could inform similar initiatives globally.

As digital payments become embedded in everyday life, their impact on the informal economy, financial systems, and regulatory landscape is expected to deepen.

The challenge for policymakers will be to sustain growth while addressing emerging risks and ensuring that the transition remains inclusive.

A three-judge panel at the US Court of International Trade will consider lawsuits filed by 24 mostly Democratic-led states and two small businesses seeking to block the tariffs, which took effect on February 24.

The plaintiffs contend the policy sidesteps a decision by the US Supreme Court that struck down a broad set of earlier tariffs imposed under the International Emergency Economic Powers Act.

The Trump administration has defended the tariffs as a lawful response to persistent trade imbalances, arguing that the United States’ long-standing deficit importing more goods than it exports justifies emergency measures.

The tariffs were enacted under Section 122 of the Trade Act of 1974, which permits duties of up to 15% for a limited period in cases of significant balance-of-payments deficits or to prevent a sharp depreciation of the U.S. dollar.

Plaintiffs argue that the provision is intended for short-term monetary crises and does not apply to routine trade deficits, which they say do not meet the statutory threshold.The legal dispute marks a further test of executive authority over trade policy, an area traditionally involving congressional oversight.

Trump has made tariffs a central element of his economic and foreign policy agenda in his second term, asserting broad unilateral powers to impose import duties.

The case follows a February 20 ruling by the Supreme Court that invalidated many of Trump’s earlier tariffs under the International Emergency Economic Powers Act, finding that the statute did not grant the authority he had claimed.

The current lawsuits do not challenge other tariffs imposed under more conventional legal frameworks, including duties on steel, aluminum and copper imports.

The cabinet has ordered a 30% reduction in fuel and electricity consumption across government offices, alongside suspending certain staff training programs and halting the procurement of new vehicles, ships and aircraft. Decorative lighting for public celebrations has also been banned as part of broader conservation efforts.

Authorities said shopping malls and retail outlets would close earlier than usual, while office timings have been curtailed to limit overall energy demand in the country of more than 170 million people.

The measures come as Bangladesh grapples with heavy reliance on imported energy, which accounts for approximately 95% of its fuel needs. Officials are seeking alternative energy sources and arranging $2.5 billion in external financing to sustain essential imports.

The crisis has been exacerbated by global energy market volatility linked to ongoing geopolitical tensions, putting pressure on the country’s foreign exchange reserves and raising concerns over energy security.