The ongoing Middle East conflict could push the world towards a recession if it continues for four more weeks, Axis Bank economist Neelkanth Mishra said. He noted that about 7% of global energy supply is already disrupted. “If this lasts more than four weeks… there will be the risk of a significant global recession,” he said. Mishra added that even a 4–5% supply shock can put similar share of global GDP at risk. Markets have not reacted sharply yet due to existing inventories. But he warned supply chains may worsen soon, with impacts already seen in sectors like real estate, auto and textiles. (PC: India Today)

The FBI is probing former US counter-terror chief Joe Kent over an alleged leak of classified information, reports said. The inquiry began before his resignation this week. Kent stepped down after opposing US strikes on Iran. In a podcast, he claimed key officials were “not allowed to express their opinion” before the decision. He said there was “no robust debate” before the February 28 strikes. Kent also said there was no clear intelligence of an immediate threat from Iran. He alleged Israel influenced the US decision. US officials have not publicly responded to his claims. (PC: X)

Iran struck Qatar’s Ras Laffan LNG hub after Israeli attacks on its gas fields. QatarEnergy said several sites were hit and damage was reported at the Pearl GTL plant. Qatar called it a “serious threat” to global energy security. The strike is seen as retaliation for attacks on Iran’s South Pars field. After the incident, Donald Trump asked Israel to avoid further strikes on the site. He said the US had “no prior knowledge” of Israel’s strike. He warned that more attacks could widen the war. He also said further damage to key energy sites could disrupt global gas supply and raise prices. (PC: HT, X)

Gas prices rose sharply in the UK and Europe after attacks on key energy sites in Qatar and Iran. Prices jumped more than 25% in early trading before easing slightly. They are now more than double the level seen before the conflict began. The rise followed damage to Qatar’s Ras Laffan complex, a major gas hub. Experts say the spike reflects fears of long disruption. “The jump is huge,” said Matthieu Favas of The Economist. He added that hopes of a quick restart now look unlikely. Prices may rise further as demand increases later in the year.

A drone struck near the SAMREF refinery in Yanbu, Saudi Arabia, as Iran expanded attacks on Gulf energy sites. The refinery, run by Saudi Aramco and ExxonMobil, saw limited damage, though a fire was reported. The strike followed similar hits in Qatar and the UAE. Iran’s Revolutionary Guard had warned of attacks on oil and gas sites across the region. The move is seen as retaliation for US-Israel strikes on Iran’s South Pars gas field. Yanbu is a key export route after the Strait of Hormuz was disrupted. Attacks on Fujairah port and Ras Laffan have raised concerns over global oil supply. (PC: X)

The Iran war has entered a more dangerous phase as both sides target energy facilities. Israel struck Iran’s South Pars gas field, the world’s largest, prompting Iran to hit gas sites in Qatar and the UAE. This marks a shift where “energy has now become a weapon of war”. Oil prices have risen above $110 per barrel. Analysts warn damage to such sites may take years to repair. India could be affected as it depends heavily on LNG from Qatar. Disruptions may hit fuel supply and costs. The conflict, now in its third week, is increasing risks for global energy markets and economies. (PC: India Today)

Indian stock markets fell sharply on Thursday, erasing about Rs 7.6 trillion in investor wealth within an hour. The Sensex dropped over 1,500 points, while the Nifty fell more than 2%. The fall came amid rising crude oil prices, which crossed $110 per barrel after fresh Middle East attacks. Investors also reacted to continued foreign outflows and weak global markets. Banking stocks led the losses. “This looks like a global risk-off move,” said Bruce Keith of InvestorAi. The US Federal Reserve’s signal of no early rate cuts also weighed on sentiment, reducing liquidity support for emerging markets like India. (PC: NDTV)

Iran struck major gas facilities in Qatar and the UAE, widening the war into key energy hubs. Missiles hit Qatar’s Ras Laffan LNG complex, causing fires and damage, though no casualties were reported. The UAE said it halted operations at key sites after intercepting missiles. The attacks followed a warning by Supreme Leader Mojtaba Khamenei, who said “every drop of spilled blood comes at a price” after the killing of Ali Larijani. Gulf nations called it a “dangerous escalation”. Oil prices surged above $110 per barrel. More than 20 ships have also been hit near the Strait of Hormuz since the conflict began. (PC: HT)

India has 367 million people aged 15 to 29, the largest youth group in the world. Education levels have improved over decades, with more students in colleges and smaller gender gaps. “Never before have so many young Indians been as educated,” a report by Azim Premji University says. Yet jobs remain limited. Nearly 40% of graduates aged 15-25 are unemployed. The study says there is an “aspiration-availability mismatch”. Many wait for better jobs but later take what is available. India creates jobs, but many are low-quality or in agriculture. Experts say growth has not matched rising education and job expectations. 

Two school friends from Howrah, Arnava Chakraborty and Anik Bhattacharya, have built a drone component start-up called DarkMatter. The firm began in a small rented room in Bally Halt in 2022. It now makes flight controllers and electronic speed controllers. The founders say Bengal lacks a strong support system for drone makers. “There is no proper support… funds should be distributed to start-ups solving problems,” Bhattacharya said. The four-member team learnt through trial and error. They have supplied bulk orders to private buyers and Indian military divisions. The company says it is among only a few such firms in India. (PC: X)