Asian economies feel the pain of the US-Israel war with Iran

A Los Angeles jury has handed down an unprecedented win for a young woman who sued Meta and YouTube over her childhood addiction to social media. We hear the latest.Since the war in the Middle East erupted, attention has focused on oil and gas flows through the Strait of Hormuz. However, the Gulf is also a major producer of aluminium and helium. We look at how disruption has spread into other commodities. And it’s not just commodities and supply chains feeling the pressure. Airlines are watching oil prices closely, because fuel is one of their biggest costs. We hear from the boss of AirAsia Group, the Malaysian budget airline, on what might happen, should oil prices remain high. (Picture: Attorney for Kayle GM, Mark Lanier (C) speaks to the media outside the Los Angeles Superior Court, in Los Angeles, California, USA, 25 March 2026. Credit: Photo by TED SOQUI/EPA/Shutterstock).

The Asian Development Bank's Chief Economist Albert Park tells us that the conflict in the Middle East could prove 'traumatic', knocking as much as 1.3% of Asian GDP growth, depending on how long it goes on for. He believes that the countries most vulnerable include Sri Lanka, Maldives, Laos, Bangladesh and Pakistan. Meanwhile the price of jet fuel has more than doubled since the start of the war with Iran, with numerous major airlines raising their prices. Jetstar New Zealand cancelled some domestic services and flights between Australia and New Zealand. Vietnam Airlines also scrapped almost a two dozen domestic flights a week. And why shares in the Chinese toy-maker Pop Mart – who make Labubu Dolls – have tumbled more than twenty percent…their biggest drop in nearly a year. Presenter: Sarah Rogers Senior Producer: Craig Henderson

The Philippines government has declared a state of emergency. President Ferdinand Marcos Jr. said fuel supply in the country is in ‘imminent danger' as prices continue to surge because of the war in the Middle East. Meanwhile, Slovenia introduces fuel rationing to stop ‘fuel tourism’ and Kenya’s flower industry is struggling with cancelled flights and disrupted sales. As Australia closes hundreds of petrol stations, many ask where this crisis is headed, and when it will end. Andrew Peach has the latest. The Trump administration says it will pay the French energy giant, TotalEnergies, nearly $1bn to cancel plans to build wind farms off the US eastern coast. President Trump has moved to scrap sustainable energy sources and increase fossil fuel production. And dynamic ticket pricing is back in the news. A group representing football fans have filed a complaint against FIFA at the European Commission for ‘abusing its monopoly position’ in ticket sales for the 2026 World Cup. FIFA says it's focused on ensuring fair access to matches.

The Philippines has declared a state of national energy emergency as the conflict in the Middle East cuts fuel supplies. President Ferdinand Marcos Jr said he had signed an executive order to safeguard energy security amid severe disruption to global supply chains. The Philippines is highly dependent on fuel imports and particularly vulnerable to disruptions in production and shipments. The US-Israel war with Iran - and the effective closure of the Strait of Hormuz, a key shipping route - has sent shock waves through global energy markets, causing soaring prices and shortages. Meanwhile Slovenia has become the first EU member state to implement fuel as many countries experience steep hikes in fuel prices. In Slovenia, this has resulted in so-called "fuel tourism", as drivers from neighbouring countries, particularly Austria, take advantage of the lower, regulated prices here. Under the new measures, private motorists in Slovenia will be restricted to a maximum purchase of 50 litres of fuel per day. Businesses and farmers have a more generous allowance of 200 litres. And after eight years of negotiation, the EU and Australia have signed new trade deal that will remove the vast majority of tariffs for both markets. As a result European shoppers could soon see more Australian beef on the shelves and the EU will be able to sell more cars, chemicals and steel in Australia.

As the war in the Middle East continues, other regions adjust. The price of oil dropped after President Trump said discussions with Iran had taken place. Meanwhile, the Philippines, which gets most of its fuel from the Persian Gulf, has declared a four-day work week to reduce energy demand; Suranjana Tewari is in Manila with the latest. We also look at the drive towards solar energy across Sub-Saharan Africa and how this conflict could accelerate trends in the renewable energy sector. In Cuba, more than 10 million people lost power to their homes after their national grid collapsed. Will Bain looks at the future of the Caribbean island. And Leonid Radvinsky, who founded OnlyFans has died. We discuss how this platform provides much more than just adult content.

We bring you the latest reaction after President Trump says the US has held constructive talks with Iran, even as Iran has denied any dialogue with the US. Also, South Korea has a new central bank chief, Shin Hyun-song, known for predicting the 2008 financial crisis. And Huel, the British meal replacement brand comes under new ownership.

The head of the International Energy Agency has told the BBC that governments need to “be more vocal” about cutting energy usage amid what he called the “greatest global energy security challenge in history”. Dr Birol is now calling on countries to cut demand suggesting lower speed limits, avoiding air travel, even restricting the use of private cars. Last week the IEA coordinated the release of 400 million barrels of strategic oil reserves, which is around 20% of the total reserves. However, the global oil price has only risen since then. David Harper has the latest. Gold prices have fallen sharply from around $5000 per ounce to just over $4500. Traditionally seen as a 'safe haven' in times of global uncertainty, why is the price of gold dropping now? Banking giant JP Morgan Chase say they are now trialling software to analyse employee working hours. The firm say that this will enable them to prioritise staff wellbeing, but it has raised questions about the ethics of logging every video call or keystroke.

The International Energy Agency wants people to cut their energy consumption. The IEA warned that the impact from the closure of the Strait of Hormuz would “become more and more severe”. And the South Korean boyband BTS are back after an interruption for its members to do national service. They've also released a new album and announced a world tour.

Global energy security is facing one of its most serious tests in years. Two of the world’s most important gas production sites, Qatar’s Ras Laffan LNG hub and Iran’s South Pars facility, have been hit in coordinated missile strikes. Ras Laffan alone supplies around a fifth of the world’s liquefied natural gas, and the damage is reported to be extensive. What does this mean for the global gas supply? Vishala Sri-Pathma has the latest.The war in Iran could result in a 0.5% decline in global goods trade this year, according to a World Trade Organisation annual forecast. Last year international trade in goods and services trade was worth $34.65 trillion which is about a third of the global economy. In Nigeria, the vast gas reserves are becoming even more strategically important in a volatile global energy climate. So what does this mean for Akwa Ibom, one of Nigeria’s key oil‑producing states?

Gas prices rise sharply following an attack on Qatar's Ras Laffan energy complex. QatarEnergy has confirmed "extensive damage" to the plant used to convert natural gas into LPG. The effective closure of the Strait of Hormuz has hit some Asian countries particularly hard because of their dependence on energy supplies from the Middle East. We hear from people in the Philippines and Morocco about how they're coping with rising fuel prices.