IMF downgrades Middle East and Central Asia outlook as war fallout and Hormuz disruption hit growth
The International Monetary Fund has sharply downgraded its outlook for the Middle East and Central Asia, saying the region's economy is now set to contract in 2026. The revision comes amid the fallout from the US-Israel war on Iran and prolonged disruption to shipping in the Strait of Hormuz. The IMF said the region's gross domestic product is forecast to shrink by 0.3% this year, reversing an April projection of 1.9% growth.The fund said the shipping disruption in the Strait of Hormuz was a key factor behind the weaker forecast. The waterway is a major route for global energy flows... [Continue Reading]
360LiveNews | 13 Oct 2026 07:30 LONDON
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UK military spending should shift toward domestic defence, thinktank says
A new report has warned that the United Kingdom's armed forces are too heavily oriented toward overseas commitments and should place far greater emphasis on domestic defence. The analysis, published on 8 October, says the country's military is the most overseas-focused among European nations and argues that the government's planned rise in defence spending could deepen existing inefficiencies unless priorities change. It says the current approach reflects an outdated foreign policy centred on missions abroad.The report was produced by researchers at the Transition Security Project, which says almost a quarter of the defence budget was spent on commitments across five... [Continue Reading]
360LiveNews | 08 Oct 2026 07:30 LONDON
THE GROWTH ILLUSION: HOW GDP TRICKERY MASKED THE DEATH OF THE MIDDLE CLASS
We are fed a daily diet of triumphant economic headlines. The S&P 500 hits record highs, corporate earnings smash forecasts, and central bankers beam at GDP charts pointing up and to the right. Politicians line up to remind us how much "wealthier" we are compared to our parents or grandparents. On paper, they are right. The average worker makes vastly more dollars today than at any point in human history. But step outside the spreadsheet and into the street, and the math fails the reality test. If we are so undeniably prosperous, why does buying a modest home feel like... [Continue Reading]
360LiveNews-Opinion | 01 Sep 2026 13:58 LONDON
