Category: business and economy

Pakistan’s diplomatic efforts to secure a ceasefire in the Middle East deserve due recognition. One looks forward to the positive outcomes of the Islamabad Peace Summit and its potential to revive the global economy over the medium to long term. However, short-term diplomacy does not immediately ease supply fears, price spikes or market volatility caused by war, including Pakistan’s recent fuel price decisions. The latter, despite the prime minister’s reduction in the petrol levy, have faced criticism as harsh, and for millions of households, they definitely are. Petrol and diesel…

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As we enter the fifth week of the war in the Middle East, most of the discussion so far has focused on oil, gas and the intensity of the energy shock. That concern is justified. But another danger is building more quietly, and it deserves attention before it becomes harder to manage. I am referring to the food security risks created by a prolonged war. To some, that may seem counterintuitive. The Middle East is not usually seen as the world’s granary. A war in the region should not, on…

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