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 talks, involving a group described as Trump’s “Board of Peace,” focused on whether DP World could partner in overseeing logistics for humanitarian aid and commercial goods entering the Gaza Strip, according to the report.

Details of the proposed arrangement, including governance structures or timelines, were not disclosed. Reuters could not independently verify the discussions.

Any such initiative would come amid ongoing international efforts to plan for reconstruction and aid delivery in Gaza, where infrastructure has been severely damaged by conflict.

Even before the latest hostilities, analysts described Iran’s economy as deeply fragile, weighed down by sanctions, energy imbalances, inflation and declining exports. The impact of renewed strikes and the effective closure of Hormuz a critical artery for global energy shipments has sharply intensified those pressures.

The blockade threatens more than 90% of Iran’s annual trade, estimated at over $100 billion, according to analysts, cutting off vital oil exports that account for roughly 80% of government revenue. Estimates cited by experts suggest losses of around $435 million per day, potentially exceeding $13 billion monthly.

Energy infrastructure constraints are compounding the crisis. With limited storage capacity and continued production, Iran risks being forced to halt oil output within weeks, raising the possibility of long-term damage to oil fields and a permanent reduction in production capacity.

On the domestic front, economic indicators point to severe distress. The Iranian rial has sharply depreciated, while food inflation has surged into triple digits, eroding purchasing power and fueling social discontent.

Shortages of energy have also disrupted key industries such as steel, cement and petrochemicals.The blockade’s effects are further magnified by limited alternative trade routes. Infrastructure outside the Gulf, including overland corridors and non-Hormuz ports, can handle only a fraction of normal throughput, leaving Iran with few options to offset lost maritime access.

Internal divisions are also emerging over the management of foreign currency revenues and economic policy, with some officials warning that significant portions of export earnings are not reaching state coffers.

Former Iranian foreign minister Mohammad Javad Zarif has called for compromise, urging Tehran to consider limiting its nuclear program and reopening Hormuz in exchange for sanctions relief to prevent further economic deterioration.Analysts say the government’s response is driven less by economic logic than by strategic considerations.

Sanam Vakil of Chatham House said the conflict is viewed by Iran’s leadership as existential, limiting the likelihood of policy shifts despite economic strain.The longer-term outlook remains uncertain.

Researchers at Royal United Services Institute warn that postwar recovery could be hampered by damaged infrastructure, reduced access to regional financial networks and strained ties with Gulf partners, particularly the United Arab Emirates, a key trade hub for Iran.

With reconstruction costs expected to be substantial and trade channels constrained, the economic consequences of the conflict may prove more enduring than the military phase itself.

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 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.

“At this point, we take a cautious approach, and we are not making any changes to specific services,” the Danish container group said in a statement to Reuters.

The conflict, which escalated following U.S.-Israeli strikes on Iran in February and subsequent Iranian retaliation, led to the closure of the Strait of Hormuz and brought Gulf shipping activity close to a standstill, disrupting global supply chains.

Maersk, one of the world’s largest container shipping companies, had suspended cargo bookings to several Gulf ports last month and introduced emergency bunker fuel surcharges globally to offset rising fuel costs.

“The ceasefire may create transit opportunities, but it does not yet provide full maritime certainty and we need to understand all potential conditions attached,” the company said.It added that any decision to resume transit through the strait would depend on ongoing risk assessments, security conditions and guidance from relevant authorities and partners.

In response to disruptions, Maersk has implemented alternative logistics routes, including a “land-bridge” system using ports in Jeddah in Saudi Arabia, Salalah and Sohar in Oman, and Khor Fakkan in the United Arab Emirates, allowing cargo to be transported by land into Gulf destinations.

The company said it would continue to monitor developments closely and update operations as greater clarity emerges in the coming days.

Surging global fuel prices are placing mounting pressure on households and small businesses across continents, with workers and entrepreneurs reporting rising costs, shrinking incomes and difficult trade-offs in daily life.

On a small dairy farm north of Auckland in New Zealand, a farmer managing 200 cows said higher diesel and petrol costs are eroding already tight margins. The farm consumes around 900 litres of diesel and up to 300 litres of petrol each month to operate tractors, machinery and quad bikes. Recent price increases have added more than NZ$1,200 to monthly expenses, translating to over NZ$15,000 annually.

The farmer said the burden extends beyond direct fuel use. Contractors charge more for their services and fertiliser prices have risen by about 40%, compounding operational costs. With commodity prices largely dictated by markets, the farmer said there is little scope to pass on higher costs, forcing decisions to delay maintenance and investment.

In Port Vila, bus driver Daniel Thomas described similar pressures in the transport sector. Driving from early morning until late evening, he earns about A$120 a day but expects that rising fuel prices could reduce his take-home income significantly. With vehicles requiring frequent refuelling and air-conditioning essential in tropical temperatures, Thomas said higher costs may force drivers to raise fares despite concerns about passenger affordability.

Across Vanuatu, many drivers are servicing loans on their vehicles, increasing financial vulnerability. Thomas said without fare increases, drivers may struggle to meet repayments, highlighting the limited options available to absorb cost shocks.In South Korea, the response has included policy measures to reduce fuel consumption.

Kim Hooin, a public sector worker commuting from Cheongju to Sejong, said mandatory vehicle restrictions introduced in late March have altered daily routines. Under the system, government employees are prohibited from driving one day a week based on licence plate numbers, encouraging greater use of public transport.

Kim said he now takes the bus daily, extending his commute time but reducing fuel expenses. At work, he manages government vehicles and said usage is being tightly controlled, with electric vehicles prioritised where possible. The government has also promoted broader energy-saving measures, including reduced water and electricity use, framing the campaign as a collective response to economic pressures.

In rural Surin Province, small-scale trader Teerayut Ruenrerng said fuel shortages and price increases have disrupted both supply chains and daily operations. Running a mobile grocery business, he often visits multiple fuel stations to secure limited quantities of diesel. Inconsistent access has made it difficult to plan routes and maintain regular sales.

Ruenrerng said rising input costs, including higher prices for meat, produce and packaging, have reduced profits by up to 20%. Supply disruptions mean that orders are frequently only partially fulfilled, forcing adjustments to inventory and pricing. He has increased some retail prices but said doing so risks losing customers in already constrained markets.

In Tokyo, Koichi Matsumoto, who operates a traditional bathhouse established by his family in the 1930s, said energy costs are a growing concern. Although the business switched from oil to gas five years ago, heating expenses remain high and are expected to increase further if global energy markets tighten.

Bathhouse operators face additional constraints, including regulated pricing set by local authorities. Matsumoto said admission fees cannot be raised freely, limiting the ability to offset rising costs. With declining customer numbers and ageing infrastructure, he said many similar establishments are weighing whether to continue operating.

In Sydney, interior designer Belinda Morgan said uncertainty linked to global energy markets is affecting demand in the construction sector. She said projects have slowed as clients delay spending decisions, prompting her to seek additional work and cut household expenses.

The family is reassessing routine activities, including discretionary travel, to conserve fuel and money.In Delhi, warehouse worker Rajesh Singh described a more acute impact, with rising cooking gas prices and food inflation forcing him to reduce meals. Earning about 12,000 rupees per month, he said essential expenses including rent and food have surged, leaving little room for savings. He reported eating once a day in recent weeks and borrowing money to manage basic needs.

Singh said several colleagues have already left the city due to rising costs, and he is considering returning to his home village if conditions do not improve. The situation reflects broader pressures on low-income urban workers facing simultaneous increases in energy, housing and food prices.

In Beijing, taxi driver Cui Xinming said fuel price increases have added to the strain of long working hours. Driving up to 12 hours a day, he said rising costs are a concern but expressed confidence in government measures to stabilise prices. He noted that China’s investment in alternative energy and electric vehicles could reduce reliance on oil over time.

Cui said he is considering leaving the profession due to fatigue and changing economic conditions, highlighting how cost pressures are influencing career decisions in addition to daily finances.

Across regions, the accounts point to a common pattern: rising fuel costs are feeding through supply chains, increasing the price of goods and services while compressing incomes. For many, the adjustments involve reducing consumption, raising prices where possible, or reconsidering long-term plans in an increasingly uncertain economic environment.

A proposed genetically modified mustard crop in Canada is intensifying divisions between farmers seeking climate resilience and an export-dependent industry wary of losing premium global markets that demand non-GMO produce.

Dallas Leduc, a fourth-generation farmer in Saskatchewan, sees promise in the new genetically modified mustard hybrid being developed by BASF. Farming more than 10,000 acres in a region marked by sandy soils and persistent drought stress, Leduc said the crop could improve yields and profitability in an increasingly challenging environment.

He described the innovation as a practical tool to sustain farm incomes under harsh climatic conditions.The new crop, designed to produce oil similar to canola while tolerating herbicides, is expected to be more resilient in arid conditions where traditional canola often fails. BASF aims to secure regulatory approval in the United States as early as next year, with Canadian commercialization expected to follow within a few years.

However, the technology has drawn strong opposition from mustard growers and exporters who rely on strict non-GMO standards in key overseas markets. Trent Dewar, a Saskatchewan farmer producing specialty mustard for international buyers, warned that even minimal contamination from genetically modified crops could undermine Canada’s reputation as a reliable supplier of non-GMO mustard.

Mustard exports, valued at around $150 million annually, are small compared to Canada’s canola sector, which generates approximately $8.9 billion. Yet for producers in semi-arid regions such as Palliser’s Triangle, mustard has historically provided a stable income where other crops struggle.

Industry representatives say the risk of cross-contamination is significant because the genetically modified hybrid and traditional mustard belong to the same species, Brassica juncea. This allows pollen from one crop to fertilize the other, raising concerns about unintended mixing through wind or pollinators.

Norm Hall, chair of Sask Mustard, said the industry is lobbying federal authorities to block the introduction of the new crop, citing the potential impact on export markets. He described resistance among growers as widespread, noting that many had not anticipated such a development being considered.

France, which imports roughly half of its mustard seed from Canada, maintains strict non-GMO standards. Christophe Planes, sales and marketing director at French processor Reine de Dijon, said the company systematically tests all supplies to ensure compliance. He indicated that the presence of genetically modified traces, even at low levels, could disrupt sourcing decisions.

Contracts reviewed by Reuters show that many buyers require non-GMO certification, although specific tolerance thresholds are often determined by individual purchasers. Industry participants say this ambiguity adds to uncertainty about how markets would respond if contamination were detected.

Canada’s mustard sector remains sensitive to historical precedent. In 2009, traces of a genetically modified flax variety known as Triffid were found in European shipments, leading to a collapse in exports that have yet to fully recover. Growers and exporters say this episode underscores the risks associated with introducing genetically modified crops into supply chains reliant on strict quality standards.

Peter Gorski of Broadgrain, which markets Canadian specialty crops globally, said international buyers view contamination risks with extreme caution. He compared the potential presence of GMO material in mustard shipments to a foreign object in food products, reflecting the severity of market reactions.

BASF, for its part, maintains that safeguards can be implemented to prevent cross-contamination. Brent Collins, who heads the company’s seeds and traits division in Canada, described the hybrid as a necessary innovation that could expand canola production into new areas and meet growing global demand for vegetable oils.

The company estimates that up to two million acres could eventually be cultivated with the hybrid crop across Canada and the United States, particularly in regions where existing oilseed varieties perform poorly. Collins said BASF is working to address growers’ concerns and ensure coexistence between genetically modified and traditional crops.

Industry groups remain unconvinced. Rick Mitzel, executive director of Sask Mustard, said coexistence is not feasible given the biological characteristics of the plant. He argued that even small-scale adoption could jeopardize the integrity of non-GMO supply chains.

The debate reflects broader tensions between technological innovation and market access in global agriculture. While genetically modified crops can enhance productivity and resilience, their acceptance varies widely across regions, particularly in Europe, where regulatory frameworks and consumer preferences remain restrictive.

The stakes extend beyond Canadian producers. Kacy Gehring of Mountain States Oilseeds in Idaho said uncertainty surrounding GMO contamination could discourage farmers from growing mustard altogether, potentially affecting global supply chains and food manufacturing.

Despite the concerns, some farmers remain committed to adopting the new technology. Leduc acknowledged the risks but said economic pressures leave little choice. Operating in a region increasingly affected by drought and climate variability, he said access to more resilient crops could be critical to maintaining viability.

The divide between proponents and opponents has widened as commercialization approaches, with industry meetings reflecting growing urgency among traditional mustard stakeholders.

Calls for legal and political action have intensified, although representatives acknowledge that regulatory frameworks in Canada do not typically consider market impacts when approving new crop technologies.

The FAO Food Price Index, which tracks international prices of a basket of widely traded food commodities, averaged 128.5 points in March, up 2.4% from a revised February level, according to the agency.

The increase reflects upward pressure in global food markets, though the FAO did not specify individual commodity drivers in its summary release.

In a separate report, the FAO slightly raised its forecast for global cereal production in 2025 to a record 3.036 billion metric tons, representing a 5.8% increase compared with the previous year.The updated outlook suggests improved supply prospects for staple crops, even as price trends point to continued volatility in international food markets.