The ADB chief economist warns crude oil prices are likely to remain elevated due to the Middle East crisis. With India heavily dependent on imported oil, higher energy costs are expected to drag FY27 GDP growth while inflation rises. Additional pressure could come from weather disruptions and soaring fertilizer costs, which may push up food prices.
India’s cabinet has approved an emergency credit guarantee program worth 181 billion rupees (about $1.9 billion) to support businesses facing liquidity stress linked to the Middle East crisis. The measure is designed to help firms, particularly smaller enterprises, keep operations running when cash flow is disrupted, by easing access to credit through guarantees.
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Kerala’s 2026 assembly elections drew a record 78.27% voter turnout, with exit polls pointing to a tight contest between the UDF and LDF. With results due on May 4, the political focus is shifting beyond local issues to whether the Middle East crisis could disrupt the state’s deep Gulf connections and influence how voters decide.
India’s fertilizer subsidy bill is expected to rise about 20% this financial year as higher prices ripple through supply chains after the Middle East crisis. The country is importing record volumes of urea, but at sharply higher costs. Those increased import expenses are likely to translate into larger subsidies for fertilizer sellers, keeping prices lower for farmers.
Dubai’s property market is showing early signs of strain as the US-Israeli war on Iran rattles sentiment. Transaction volumes have fallen, with some sellers listing properties at discounts. Analysts expect a slowdown and possible price declines, though activity hasn’t stopped entirely—investors are still hunting distressed deals. Developers, meanwhile, are leaning on long-term value.
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