Diplomats from Asia, Europe, and North America are convening in Manila, with discussions dominated by renewed Middle East hostilities and their global economic fallout. Concerns are high over the war in Iran, the blockade of the Strait of Hormuz, and Houthi attacks on oil tankers in the Red Sea, risking a dual chokehold on global oil supplies. These disruptions are already stoking worldwide inflation and impacting energy and food supply chains. For Pakistan, sustained high crude oil prices due to these tensions could further fuel domestic inflation and put pressure on the USD/PKR exchange rate, potentially boosting local gold demand.
بحوالہ / Source: www.brecorder.com