The UN Economic and Social Commission for Western Asia, or ESCWA, says the Middle Est war is already inflicting heavy economic losses for the Arab region, estimated at $63 billion in the first two weeks.
If the war continues for a month, losses could reach nearly $150 billion, or 3.7 per cent of regional GDP.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.