Sri Lanka has announced sweeping austerity measures, including a shortened four-day work week, as it seeks to conserve dwindling fuel reserves amid escalating tensions in the Middle East. The decision comes as the Strait of Hormuz, a critical global oil transit route handling around 20 percent of petroleum shipments, remains…
Global markets reacted sharply on Monday following escalating conflict in the Middle East after US and Israeli strikes on Iran, including the killing of Supreme Leader Ayatollah Ali Khamenei. The crisis prompted a spike in oil prices, fears of a Strait of Hormuz shutdown, and turbulence across Asian stock markets.…