The head of the UN a task force to facilitate the safe passage of fertilizers and related raw materials via the Strait of Hormuz, warned of a looming food crisis as fertilizer shipped through the vital lifeline is blocked ahead of the planting season.
As the Persian Gulf crisis continues, time is ticking for farmers who rely on fertilizer shipped via the strategic trade route - and millions worldwide who depend on their crops, particularly in vulnerable countries such as war-torn Sudan.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.