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The International Monetary Fund (IMF) has issued a stark warning that the ongoing conflict in the Middle East will lead to higher prices and slower global growth, affecting countries worldwide. The Washington-based organisation emphasised that a rise in energy and food costs will harm economic growth this year and could leave lasting scars on the global economy.The IMF's analysis, published in a blogpost by its main department heads, including chief economist Pierre-Olivier Gourinchas, noted that governments with high levels of borrowing will have limited access to funds to cushion the worst effects of the crisis. The organisation warned that all roads lead to higher prices and slower growth should the conflict continue to disrupt the supply of oil, gas, and fertiliser from the Gulf.While some countries, such as the US, may gain from higher fossil fuel prices as net exporters of oil and gas, the rise in bills for petrol, diesel, and food will harm living standards. Businesses are also forecast to come under pressure to raise prices, possibly forcing central banks to raise interest rates to combat inflation.The IMF highlighted that about a third of fertiliser production travels through the strait of Hormuz, which could push up prices. The UN Food and Agriculture Organisation projects that global prices could average 15% to 20% higher in the first half of 2026 if the crisis persists. Natural gas prices have more than doubled in the UK since last December to about £140 a therm, while a barrel of Brent crude that cost about $60 before the conflict hit more than $116 on Monday before falling back to $112.The IMF added that forecasts for sharp rises in the cost of gas and electricity in Europe next winter are forcing governments to consider higher subsidies and welfare payments to the worst-affected households. The organisation noted that countries such as Italy and the UK are especially exposed by their reliance on gas-fired power, while France and Spain are relatively protected by their greater nuclear and renewables capacity.

Liverpool is optimistic that Mohamed Salah will return from injury in the FA Cup quarter-final against Manchester City on Saturday. The Egypt international has been sidelined with a muscle problem sustained during the Champions League match against Galatasaray.Salah, who announced his departure from Liverpool at the end of the season, was also forced to miss Egypt's friendlies against Saudi Arabia and Spain. However, he has responded well to treatment, and there is confidence he will be involved at the Etihad Stadium on Saturday.This potential return comes as Liverpool prepares for a crucial sequence of fixtures that could define their season. Arne Slot's side will be looking to make a strong impression, especially with the Champions League quarter-final first leg against Paris Saint-Germain approaching.In other injury news, Alexander Isak may also be available for the first time since fracturing a leg at Tottenham in December, although his comeback is expected to be more realistic for the Champions League match. The £125m British-record signing is expected to resume team training this week.On the other hand, Alisson, Liverpool's first-choice goalkeeper, is still nursing a hamstring injury and remains a major doubt for the trip to Parc des Princes. The 33-year-old has experienced repeated hamstring injuries in recent seasons.Meanwhile, Florian Wirtz has claimed that he has become a stronger player as a result of the problems he encountered after moving to Liverpool. The Germany international joined for a then club-record £116m from Bayer Leverkusen last summer but has struggled to impose himself in the Premier League.

Amnesty International has raised concerns that the 2026 Fifa World Cup, set to take place across the US, Canada, and Mexico, may become a 'stage for repression' rather than a celebration of football and unity. The organization published a report titled 'Humanity Must Win,' calling on Fifa and the host countries to take immediate action to protect fans, players, and local communities.The report highlights that while Fifa has promised a tournament where everyone feels safe, included, and free to exercise their rights, the reality on the ground, especially in the US, tells a different story. Amnesty International describes the US as facing a 'human rights emergency' under the Donald Trump administration, marked by mass deportations, arbitrary arrests, and 'paramilitary-style' Immigration and Customs Enforcement (ICE) operations.ICE has announced it will be a key part of the security apparatus for the World Cup, despite concerns over its actions, including the killing of two American citizens by ICE agents in Minneapolis in January. Amnesty International also noted that none of the published US host city plans address how fans or local communities will be protected from ICE operations.The organization pointed out that fans from several countries, including Côte d'Ivoire, Haiti, Iran, and Senegal, face US travel bans, and LGBTQ+ fan groups from England and Europe have expressed concerns about attending matches in the US due to risks to transgender supporters. The report emphasizes that urgent efforts are needed to bridge the gap between Fifa's original promise of a safe and inclusive tournament and the current reality.Fifa stands to earn $11bn from the tournament cycle, but Amnesty's head of economic and social justice, Steve Cockburn, stressed that 'fans, communities, players, journalists, and workers cannot be made to pay the price' for the tournament's success. 'It is these people – not governments, sponsors, or Fifa – to whom football belongs, and their rights must be at the centre of the tournament.'

South Australia secured a historic back-to-back Sheffield Shield titles, defeating Victoria by 56 runs in a thrilling final. Chasing a target of 196, South Australia resumed at 102-5 on day five at Junction Oval and were eventually bowled out for 139. The match was marred by controversy when Victorian batter Oliver Peake was given out caught off a delivery that appeared to be a front-foot no-ball. Peake's dismissal was a critical blow to Victoria, who had dominated the season and were favourites to claim their first title since 2018-19. Liam Scott, the Shield player of the year, took 3-32, while Henry Thornton claimed 3-12, including the last two wickets. Nathan McAndrew took 3-50 and was named player of the match for his second-innings 60 and six wickets. South Australia captain Nathan McSweeney praised his team's resilience, saying, "We really had to dig deep. The ability for us to stay in the game is incredible and to win two in a row with this group is super-special." The victory marked a significant achievement for South Australia, who only secured a spot in the final in the last game of the regular season.

The Pentagon is gearing up for weeks of limited ground operations in Iran, potentially including raids on Kharg Island and coastal sites near the Strait of Hormuz, according to US officials. These plans, which fall short of a full invasion, may involve special operations and conventional infantry troops.The operations would expose US personnel to Iranian drones and missiles, ground fire, and improvised explosives. The plans have been discussed within the administration over the past month, with objectives under consideration including the seizure of Kharg Island, a key Iranian oil export hub in the Gulf.According to officials, the objectives would likely take weeks, not months to complete. The Pentagon has not responded to requests for comment, and Iran has yet to respond to the report.The developments come as Pakistan mediates between Washington and Tehran, hosting talks with the foreign ministers of Saudi Arabia, Turkey, and Egypt. Iranian parliament speaker Mohammad Bagher Ghalibaf warned that Iran is prepared to respond to any ground attack, stating that the enemy's plans for a ground attack are being met with readiness from Iranian forces.Iran's navy chief, Shahram Irani, also warned that the USS Abraham Lincoln aircraft carrier would be targeted if it comes within range. The situation remains tense, with Iran posing a credible threat in the Bab al-Mandeb Strait, which lies between Yemen and Djibouti.

The impending retirement of millions of small business owners, primarily from the baby boomer generation, poses a significant challenge for the US economy. According to the Small Business Administration, there are approximately 33 million small businesses in the US, but fewer than 7 million employ people. The rest are often solo operations or side gigs with little to no value if the owner were to suddenly disappear. Many small business owners, like the author, operate in a service-based economy, which accounts for 77% of US GDP. These businesses are often built around the owner, with no hard assets to sell, making them unattractive to potential buyers. The author's own business is a prime example, with no valuable assets, a virtual office, and remote employees. A recent McKinsey report predicts a "great ownership transfer" over the next 10 years, with as many as 6 million small and midsize American businesses changing hands. However, without intentional action, many viable small businesses may close rather than transfer ownership. So, what are the options for these business owners? They could hand down the business to their kids, but this only works if the kids are interested and capable. Another option is to build an actual business with value by changing billing models, enforcing contracts, and creating a sustainable brand. However, this approach can be exhausting, especially for older business owners. A more practical approach for service business owners is to build cash and save for retirement. The author has been pulling profits out of their company and saving, planning for retirement through their savings rather than their business. This transition presents a great opportunity for younger entrepreneurs, who could partner with or purchase businesses from older owners, leveraging their existing operations, customers, and relationships to make improvements and grow the business.

The Houthis, a Shia sect backed by Iran, have entered the conflict with missile attacks on Israeli military sites. The true significance of their involvement depends on whether they intend to launch sporadic attacks or effectively close off the Red Sea to shipping. Disruption of the Bab al-Mandab strait and the Strait of Hormuz could have a devastating impact on global trade and economy. The Houthis' ability to interdict ships poses a significant threat, and their actions could drive up shipping costs and oil prices. The Houthis have a complex relationship with Iran, receiving arms from Tehran but not directly fighting on its behalf. A ceasefire with the US, mediated by Oman, has been in place since May 2025, but it does not apply to Israel. Saudi Arabia's role in Yemen's future is crucial, as it seeks to reach deals with the Houthis and former Southern Transitional Council (STC) supporters. The Houthis may act cautiously, seeking financial rewards from Saudi Arabia. The conflict could drag Yemen further into regional war, making peace more difficult and prolonging civilian suffering. The UN special envoy for Yemen, Hans Grundberg, has warned of the escalation's risks, stating it will deepen economic repercussions and prolong the suffering of civilians.

Jeepney driver Arturo Modelo of Manila says his daily earnings have collapsed to roughly one‑third of the usual 600 pesos after fuel costs surged, leaving him unable even to afford his child’s lunch money.Modelo joined a two‑day transport strike on Thursday and Friday, hoping to make a “deaf government” listen to the plight of drivers who can no longer earn a living on the road.The iconic jeepney, born from repurposed U.S. military vehicles after World War II, remains the most affordable commuter option in the Philippines, yet its operators are now bearing the brunt of a global oil shock.Last week, jeepney owners walked out, and this week the protest expanded to include bus, taxi, minibus and motorcycle‑taxi drivers. Nearly a dozen national transport groups marched to the Presidential Palace demanding price caps on petrol and diesel, the removal of fuel taxes, and stricter regulation of the oil sector.Organised under the No to Oil Price Hike Coalition, the demonstrators also blamed “American aggression” against Iran for the domestic economic distress, with union chair Jerome Adonis likening the impact to “a bomb dropped on us”.In response, President Ferdinand Marcos Jr declared a national energy emergency on Tuesday night – the first such declaration in the country’s history. The emergency, set to last one year, grants the government powers to accelerate fuel procurement, curb hoarding and curb profiteering.Fuel prices remain among the highest in Southeast Asia: diesel is now about $2.3 per litre and petrol close to $2 per litre in the Philippines, versus $2.7 and $2.35 respectively in Singapore, while Malaysia, Vietnam and Thailand report roughly half those prices.To alleviate the burden, the administration has introduced a 5,000‑peso ($83) subsidy for motorcycle‑taxi drivers and other public‑transport workers, and disbursed 2.5 billion pesos (≈$414 million) in fuel subsidies to roughly 300,000 transport employees. Unions claim the sector employs about two million people, leaving many without aid.During the strike, picket lines appeared at 85 commuter terminals, and jeepneys were scarce on Manila’s usually congested streets. Authorities, however, argued that the action did not cripple the city’s transport network.Union leader Mody Floranda of the Piston group accused President Marcos of favouring oil companies, saying the president could issue an executive order to cap prices but has yet to act decisively.Energy officials note that 98 % of the Philippines’ crude oil is imported and that the country’s high 12 % value‑added tax, excise duties and a deregulated market – shaped by the Oil Industry Deregulation Law of 1998 – amplify price volatility. Professor Krista Yu of De La Salle University highlighted the nation’s limited refining capacity as a structural weakness.Chief economist Emmanuel Leyco warned that the law allowing industry‑driven price adjustments “is the main culprit”, especially as “half the population is poor”.Amid mounting pressure, Marcos signed legislation permitting the temporary suspension of fuel excise taxes when crude oil prices exceed a set threshold. Opposition lawmaker Renee Co urged that the 12 % VAT also be removed, calling both taxes “regressive” burdens on ordinary Filipinos.Co and other lawmakers have also filed a resolution demanding an immediate end to the U.S.‑Israel‑Iran conflict, linking regional geopolitics to the domestic fuel crisis.

A firefighting helicopter successfully crash-landed in South Africa, with both pilots on board miraculously surviving the incident. The details of the crash, including the cause and location, have not been disclosed.The pilots' survival is being hailed as a remarkable outcome given the typically high risk of fatality in such aviation accidents. Firefighting helicopters play a critical role in combating wildfires, especially in regions prone to severe fire outbreaks like South Africa.