World Business Report

Oil prices have jumped above 109 dollars a barrel after airstrikes hit Iran’s South Pars gas field, the world’s largest natural gas reserve, shared with Qatar, raising fresh concerns about supply during an already volatile period.
In Bangladesh, the impact of the oil price is becoming increasingly visible. The country, which relies on imports for around 95 percent of its energy, is seeing long queues at fuel stations as fears of shortages grow. The government has even shut down universities in an effort to conserve electricity, affecting students across the country.
Meanwhile, Nigeria’s president Bola Ahmed Tinubu has begun a two-day state visit to the UK, with trade and investment high on the agenda. With bilateral trade already worth up to 10 billion dollars annually, could the visit could unlock new opportunities and reshape the economic relationship.

The US Israel war with Iran has caused significant disruption to the global supply of oil and caused major economic upheaval. The US government has granted permission to domestic oil producers to drill in Alaska and the Gulf of Mexico, but much of America's oil comes from fracking. So will the frackers be taking advantage of current high oil prices to increase production? Vishala Sri-Pathma has the latest.
In Sri Lanka, the government has announced an emergency shift to a four day work week to conserve dwindling fuel reserves, amid growing fears over petrol shortages. The Sri Lankan government has now declared that every Wednesday will now be a public holiday to cut fuel consumption on the island.
Elsewhere, there were real worries in Dublin that Donald Trump’s tax agenda could see US multinationals paying far less corporation tax in Ireland on their European profits. However, those fears haven’t materialised. US tariffs have generally not been applied to pharmaceutical products which are Ireland's main export to the US. Meanwhile, the Irish economy has also been underpinned by a continuing corporation tax windfall.

The escalation in the Middle East is continuing to drive up energy prices, with the Strait of Hormuz, a critical chokepoint for global oil shipments, effectively closed. We bring you the latest on oil prices and how wider stock markets are responding.
Despite higher prices, US oil production is not accelerating as some might expect. The number of active rigs remains below last year’s levels, and investment in new drilling is expected to stay modest into 2026.
At the same time, political tensions are adding another layer of uncertainty. US President Donald Trump says he is considering delaying a planned summit with China’s President Xi Jinping, citing both the ongoing conflict with Iran and efforts to reopen key shipping routes. So how is this being viewed from Beijing?
And as energy costs climb, businesses around the world are already feeling the pressure. In Kolkata, makers of one of India’s most famous dishes, biryani, say gas shortages and rising costs are hitting their livelihoods, as we hear from restaurant owners struggling to keep up with demand.

A report out from Interpol states that an estimated $442bn dollars were lost worldwide last year to financial fraud. In its annual report, Interpol said AI-enhanced fraud was now almost five times more profitable than traditional methods, with AI systems able to autonomously plan and execute complete fraud campaigns. Vishala Sri-Pathma finds out more.
China sets its lowest growth target in decades. The focus appears to be shifting from rapid expansion to stability in an increasingly uncertain global economy. What does this mean for China today? In Kolkata, the upswing in the oil price is trickling into everyday life, we hear how gas shortages are affecting biryani sellers across the city.

Global energy markets remain jittery after a drone strike at the UAE’s Port of Fujairah forced a temporary halt in oil loading, raising concerns about the vulnerability of key Gulf export routes even as the Strait of Hormuz stays mostly closed.
Meanwhile, the White House is seeking to assemble an international naval coalition to escort ships through the strait.
In Japan, the nation’s once-ubiquitous vending machines are in decline, with numbers down 23% since their 1985 peak of 2.2 million.