Strait of Hormuz blockade
Coverage of Strait of Hormuz blockade in the Nexus archive.
- Nigeria faces ‘highest’ inflation risk among emerging markets, S&P says
S&P warns Nigeria faces the largest inflation shock among emerging markets in 2024 due to higher energy and fertilizer prices linked to the Iran war and El Niño. The agency raised Nigeria’s inflation forecast to 16.9% and cut GDP growth to 3.7%, while South Africa’s central bank also raised interest rates amid similar economic strains.
- Govt keeps petrol, diesel prices unchanged for next week
The government has kept petrol and diesel prices unchanged for the next week, following recent reductions in prices due to declining international oil prices. Prime Minister Shehbaz Sharif had previously announced cuts, but earlier wartime-related price hikes faced public backlash.
- India’s strategic autonomy morphing into a connectivity strategy
India is pursuing a connectivity strategy as part of its ambition to become a developed economy by 2047, emphasizing reliable access to overseas markets amid West Asian crises such as the Gaza war, Red Sea disruptions, Iran war, and Strait of Hormuz blockade.