ILO: Middle East crisis could cost 14 million jobs
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The crisis in the Middle East could cost 14 million full-time equivalent jobs this year if the price of a barrel of oil exceeds the average for the start of the year by 50%.
No recession in Switzerland despite oil crisis, says study
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Unlike during the 1973 oil crisis, Switzerland is not threatened by a recession despite rising energy prices and the tense situation in the Middle East.
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SWISS posts a strong first quarter, with higher revenues and profits driven by surging demand linked to the Middle East conflict, especially on Asian routes.
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Two months of war in Iran have sent shockwaves through global energy markets and economies. Switzerland has so far escaped the worst – but the fallout is starting to be felt.
