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World Economy Mar 24, 2026

UK Ministers Warn Against Increased North Sea Drilling Amid Fossil Fuel Volatility

UK ministers have cautioned against expanding North Sea drilling, citing the risks of volatile foss…
UK ministers have issued a stern warning that increasing North Sea drilling would leave the country vulnerable to the fluctuations of fossil fuel markets. This cautionary stance comes as the Conservatives and some Labour MPs are advocating for a reversal of the manifesto commitment to not issue new oil and gas licences.Energy Minister Michael Shanks emphasized that the UK is learning from past conflicts to avoid exposure to fossil fuels, which have previously led to households bearing the brunt of price hikes. The government's focus is on clean power to achieve energy sovereignty and national security.Chancellor Rachel Reeves is set to outline plans to protect people from higher energy bills caused by the US-Iran conflict. The plans include measures to clamp down on price gouging, especially by petrol retailers responding to the conflict.Ed Miliband, the energy secretary, stressed that dependence on fossil fuel markets makes the UK a price taker, not a price maker. He argued that new licences in the North Sea would not affect prices and that scrapping the windfall tax would only increase energy company profits.The Labour Party has raised concerns about the impact of increased drilling on the environment and the economy. Claire Coutinho, the shadow energy secretary, argued that turning away from domestic gas would be detrimental, especially during a gas supply crisis.The government spokesperson highlighted the importance of £120bn of public investment in building homegrown energy, including nuclear power projects, to protect working people's bills for generations to come.
#energy #north #sea
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News Mar 23, 2026

Pakistan and Afghanistan Agree to Temporary Ceasefire During Eid al-Fitr

Pakistan and Afghanistan have agreed to a temporary ceasefire during the Muslim holiday of Eid al-F…
Pakistan and Afghanistan have agreed to a temporary ceasefire during the Muslim holiday of Eid al-Fitr, which begins on Thursday and lasts until Tuesday. The decision was made amid weeks of deadly violence between the neighboring countries.Pakistani Information Minister Attaullah Tarar announced that the ceasefire was requested by Saudi Arabia, Qatar, and Turkey. He stated that Pakistan is offering this gesture in good faith and in keeping with Islamic norms.However, Tarar also warned that if there are any cross-border attacks, drone attacks, or terrorist incidents inside Pakistan, military operations will immediately resume with renewed intensity.The Taliban government in Afghanistan also confirmed that it would temporarily suspend military operations against Pakistan.The ceasefire comes after Afghanistan accused Pakistan of killing hundreds of people in an air strike on a drug rehabilitation center in Kabul. Pakistan has strongly rejected these claims, stating that it only targets terrorist infrastructure and military locations.The United Nations reported 143 deaths in the incident at the Omar Addiction Treatment Hospital, a 2,000-bed facility. The conflict has led to repeated cross-border clashes and air strikes inside Afghanistan, despite international calls for a ceasefire and concerns about a widening displacement crisis.The World Health Organization (WHO) chief, Tedros Adhanom Ghebreyesus, urged all parties to de-escalate and prioritize peace and health, noting that at least six health facilities in Afghanistan have been affected by the violence since late February.The Qatari Ministry of Foreign Affairs welcomed the temporary truce as a positive gesture that contributes to de-escalation and promotes calm between the two sides. They hope the pause in fighting will pave the way for a return to a sustainable ceasefire agreement that spares civilian lives and achieves security and stability.
#pakistan #afghanistan #ceasefire
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World Economy Mar 23, 2026

Iran War Threatens Global Food Security with Fertiliser Shortage

The ongoing war in Iran has triggered a potential global food crisis due to a looming shortage of f…
The conflict in Iran has sparked concerns about a potential global food crisis due to a looming shortage of fertiliser, a crucial component in food production. The Strait of Hormuz, a vital shipping route, has been disrupted, impacting the export of fertilisers from Gulf countries.On March 2, Ebrahim Jabari, a senior adviser to the commander-in-chief of Iran's Islamic Revolutionary Guard Corps (IRGC), announced that the Strait of Hormuz was 'closed', causing oil prices to soar above $100 per barrel. However, experts warn that a parallel crisis is emerging - a considerable threat to global food security due to a shortage of fertiliser.Nearly half of the world's traded urea, the most widely used fertiliser, and large volumes of other fertilisers are exported from Gulf countries via the Strait of Hormuz. Recent disruptions to gas supplies and shipping have already forced fertiliser plants in the Gulf and beyond to shut or cut their output.Countries such as India, Brazil, and China are heavily dependent on Gulf fertiliser exports, with India sourcing over 40% of its urea and phosphate fertilisers from the region. A prolonged fertiliser shortage and hike in fertiliser prices could lead to reduced crop yields, affecting food security worldwide.The urea export prices from the Middle East have surged by about 40%, rising from just less than $500 to a little more than $700 per metric tonne. The price is currently close to 60% higher than this time last year.According to one shipping services company, 20% of the world's fertiliser originates in the Gulf, while 46% of global urea supply comes from the Gulf. Qatar Fertiliser Company (QAFCO), considered the world's largest urea supplier, alone supplies 14% of the world's urea.Analysis by Kpler, a data and analytics company, shows that as much as one-third of global fertiliser trade could be disrupted if the closure of the Strait of Hormuz persists. This could lead to nitrogen fertiliser prices doubling and phosphate prices climbing by about 50%.
#fertiliser #percent #world
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World Economy Mar 23, 2026

India's Cooking Gas Shortage Triggers Mass Departure of Textile Industry Workers

A severe cooking gas shortage in India has led to a significant exodus of workers from the textile …
A cooking gas crisis in India has forced a mass exodus of workers from the country's vital textile industry, according to reports. The shortage of LPG (liquefied petroleum gas) has created significant disruptions to both household needs and industrial operations.The textile sector, which employs millions of workers across India, has been particularly hard hit as workers have been compelled to leave their jobs and return to rural areas in search of alternative cooking fuel sources. This mass migration represents a serious challenge to India's manufacturing economy and could have long-term implications for the country's industrial output.While the full extent of the crisis remains unclear, industry experts warn that the prolonged energy shortage could lead to further production shutdowns and economic instability in regions heavily dependent on textile manufacturing.
#india #cooking #gas
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Gallery Mar 23, 2026

Global Muslim Communities Mark Eid al-Fitr Amidst Ongoing Conflicts

Muslims worldwide celebrated Eid al-Fitr on Friday, marking the end of Ramadan. The festivities too…
Muslim communities around the globe observed Eid al-Fitr on Friday, signifying the conclusion of the sacred month of Ramadan, during which devotees abstain from food and drink from dawn till dusk. The culmination of Ramadan is marked by the sighting of the new moon, heralding the onset of Shawwal. However, variations in moon sighting practices lead to discrepancies in the timing of Eid celebrations across different countries. In several nations, including Mali, Niger, and Afghanistan, Eid al-Fitr was observed on Thursday, whereas in the Middle East, Africa, and Southeast Asia, it was celebrated on Friday. This joyous occasion, which extends over two days, is distinct from Eid al-Adha, which occurs during the Hajj pilgrimage. Traditionally, Eid al-Fitr commences with congregational prayers in open spaces, providing an opportunity for families and friends to unite for collective prayers and festivities. The celebrations this year are overshadowed by conflicts and instability in numerous Muslim-majority countries. In Iran, the ongoing war has resulted in widespread disruptions, while regions in the Gulf have experienced repercussions from escalating tensions. The United Nations reported that over one million people have been displaced in Lebanon due to Israeli attacks. Furthermore, Sudan has evolved into the world's largest humanitarian crisis as the conflict enters its third year.
#eid #countries #al-fitr
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Sports Mar 23, 2026

Pakistan Super League to be Held Behind Closed Doors Due to Oil Crisis

The Pakistan Super League, the country's premier domestic T20 cricket tournament, will be held with…
The Pakistan Super League (PSL), the country's top domestic T20 cricket tournament, will take place in empty stadiums due to the recent surge in oil prices. The decision was announced by Pakistan Cricket Board (PCB) chairman Mohsin Naqvi, citing a fuel shortage caused by the Middle East conflict.The league, set to start on Thursday, will now be hosted in only two cities: Lahore and Karachi. The opening match will be played at Gaddafi Stadium in Lahore. The PCB has also cancelled the opening ceremony that was scheduled to take place in Lahore.Pakistan is facing soaring oil prices due to the conflict in the Middle East, prompting the government to advise citizens to restrict their movements. Naqvi stated that it wouldn't be feasible to have 30,000 people in stadiums daily while people are being asked to limit their travel.The PCB will refund tickets to fans who had purchased them and will also compensate franchise owners for the loss of revenue from gate receipts. Naqvi apologized to the four cities – Rawalpindi, Faisalabad, Multan, and Peshawar – that will no longer host PSL games this season.Several foreign players, including Australians Jake Fraser-McGurk and Spencer Johnson, South African Ottneil Baartman, and West Indian Gudakesh Motie, have pulled out of the PSL due to personal reasons. The PCB consulted with Pakistan's Prime Minister Shehbaz Sharif, who is also the PCB patron, and the eight franchises before making the decision to stage the games without spectators.
#psl #cricket #pakistan
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World Economy Mar 23, 2026

Japan Taps Emergency Oil Reserves Amid Iran-Israel Conflict

Japan has begun releasing oil from its emergency reserves as the global energy crisis worsens due t…
Japan has initiated the release of oil from its emergency reserves in response to the escalating global energy crisis triggered by the Iran-Israel conflict. The crisis has led to the effective closure of the Strait of Hormuz, a critical waterway for global oil supplies.The decision to release oil reserves was announced on Monday through a notice published in the Japanese government's official gazette. This move follows Japanese Prime Minister Sanae Takaichi's announcement last week to unilaterally release 80 million barrels of oil from stockpiles due to supply concerns arising from Iran's threats against shipping in the strait.The International Energy Agency (IEA) has also pledged to coordinate the release of a record 400 million barrels to mitigate the market impact of the conflict. Despite these efforts, oil prices have surged, with Brent crude rising as much as 3% on Sunday before easing slightly on Monday. As of 05:45 GMT, Brent stood at $104.85 a barrel, marking a more than 40% increase since the start of the war on February 28.Japan, being one of the world's largest oil importers, relies on overseas fossil fuels for about 80% of its energy needs. The country also holds one of the world's largest oil reserves, sufficient to meet 254 days of domestic consumption. Tokyo has stated it has no plans to deploy its navy to the strait following a call from US President Donald Trump for other countries to help unblock the waterway.
#japan #iran #israel
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News Mar 23, 2026

US Deploys ICE Agents to Airports Amid Funding Crisis and Security Delays

The US government has begun deploying Immigration and Customs Enforcement (ICE) agents to assist in…
The US government has initiated the deployment of hundreds of Immigration and Customs Enforcement (ICE) agents to airports across the country to address significant staffing shortages and security concerns. This move comes as a result of a prolonged federal funding battle that has led to long delays and congestion at airport security screening stations.According to reports, ICE and Homeland Security Investigations officers are being deployed to more than a dozen airports, including major hubs such as New York’s John F Kennedy International Airport and Hartsfield-Jackson Atlanta International Airport. The deployment aims to support the Transportation Security Administration (TSA) workers, who have been working without pay due to the funding lapse.The funding crisis began on February 14, when some Department of Homeland Security (DHS) funding lapsed due to disagreements over reforms in the wake of President Donald Trump’s immigration policies. This has resulted in TSA agents working without pay and over 300 employees quitting since the shutdown began.While the deployment is intended to alleviate security concerns, it has raised serious concerns among Democrats and some Republicans. They argue that untrained ICE agents could fuel tensions and are not equipped to handle airport security duties. House Democratic leader Hakeem Jeffries and Republican Senator Lisa Murkowski have expressed opposition to the plan, emphasizing the need to resolve DHS funding issues and pay TSA agents.In response to the deployment, President Trump has requested that ICE agents remove their face masks while working at airports, citing concerns about their visibility. However, the move has been met with criticism, with some arguing that it could lead to additional tensions at already strained airport security checkpoints.
#agents #airports #ice
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World Economy Mar 23, 2026

Cuba Overcomes 29-Hour Nationwide Blackout Amid US Oil Blockade

Cuba has restored its power grid and brought online its largest oil-fired power plant, ending a 29-…
Cuba has successfully restored its power grid and brought its largest oil-fired power plant back online, ending a 29-hour nationwide blackout that affected the country's 10 million people. The blackout, which began on Monday, was caused by a combination of factors, including a US oil blockade that has severely impacted Cuba's fuel supply.The country's national power grid had fully come back online by 6:11 pm (22:11 GMT) on Tuesday. However, officials have warned that power shortages may continue due to insufficient electricity generation. The Antonio Guiteras power plant, a decades-old facility that underpins the country's power grid, was successfully fired up by midday on Tuesday.The US oil blockade, imposed by President Donald Trump, has had a significant impact on Cuba's economy and daily life. The blockade has restricted Cuba's access to oil imports, leading to dire fuel shortages and antiquated power plants struggling to meet demand. As a result, most Cubans, including those in Havana, have been experiencing 16 or more hours of blackout daily even before the latest grid collapse.The situation has led to heightened tensions between Cuba and the US, with Cuban President Miguel Diaz-Canel criticizing the US's "almost daily public threats against Cuba." The US State Department has blamed the Cuban government for the grid collapse, calling blackouts a "symptom of the failing regime's incompetence." Despite the challenges, Cubans have shown resilience, with many residents staying calm and adapting to the difficult circumstances.Cuba and the US have opened talks aimed at defusing the crisis, which is among the most acute since 1959. However, neither side has provided details of the ongoing negotiations. The situation remains a significant challenge for both countries, with the Cuban people bearing the brunt of the impact.
#power #cuba #grid
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