作者: admin

  • Separatists in Cameroon announce a 3-day pause in fighting for pope’s visit

    Separatists in Cameroon announce a 3-day pause in fighting for pope’s visit

    YAOUNDE, Cameroon – In a surprising gesture ahead of Pope Leo XIV’s upcoming visit to the Central African nation, coalitions of English-speaking separatist insurgents have declared a 72-hour pause in hostilities to open secure passage for civilians, religious pilgrims, and official delegations during the papal trip.

    The Unity Alliance, a umbrella organization bringing together multiple separatist factions operating in Cameroon’s restive western regions, released an official statement late Monday confirming the ceasefire. The announcement notes the temporary halt to fighting honors the “profound spiritual importance” of Pope Leo XIV’s visit, prioritizing the safety of all those planning to participate in papal events.

    As of Tuesday, Cameroon’s national government has not issued an immediate formal response to the ceasefire declaration, following a request for comment from the Associated Press. Last week, government spokesperson René Sadi reaffirmed that state officials had completed “all necessary arrangements” to guarantee a safe and successful visit for the pontiff.

    Decades of underlying tension erupted into open armed conflict in 2017, when separatist groups launched an independence rebellion seeking to carve out a sovereign state for Cameroon’s English-speaking minority, separated from the country’s French-speaking majority. Since the conflict began, fighting has plagued the North-West and South-West regions, leaving more than 6,000 people dead and forcing more than 600,000 residents to flee their homes, according to data from the International Crisis Group, an independent non-profit conflict analysis organization.

    Pope Leo XIV launched a four-nation tour of Africa earlier this week, starting his journey in Algeria before moving on to Cameroon, where he is scheduled to land in the capital Yaoundé on Wednesday. On Thursday, he will lead a high-profile peace gathering in Bamenda, the urban center that has become the epicenter of the separatist conflict.

    Unity Alliance spokesperson Lucas Asu emphasized in the statement that the ceasefire “reflects a deliberate commitment to responsibility, restraint, and respect for human dignity, even in the context of ongoing conflict.” Asu also clarified that the papal visit should be framed exclusively as a spiritual event, and should not be interpreted as an endorsement of any Cameroonian political faction or governing authority.

    While the frequency of deadly separatist attacks has declined in recent years, the long-running conflict remains far from resolved. Brokered peace talks mediated by international third parties have stalled in recent months, with both the Cameroonian government and separatist leaders repeatedly accusing one another of negotiating in bad faith.

    The roots of the current crisis stretch back to Cameroon’s colonial legacy. After World War I, the former German colony of Cameroon was split into two administrative zones, controlled by France and the United Kingdom respectively. In a 1961 UN-supervised referendum, the British-administered English-speaking regions voted to reunify with French Cameroon to form a single independent nation. Separatist leaders argue that since unification, English-speaking communities have faced systematic political and economic marginalization at the hands of the Francophone-dominated national government.

    This report includes contributions from correspondent Banchereau, who reported from Dakar, Senegal.

  • Xi says China, Spain should strengthen cooperation to oppose ‘law of jungle’

    Xi says China, Spain should strengthen cooperation to oppose ‘law of jungle’

    BEIJING, April 14, 2026 – In a high-profile diplomatic meeting with visiting Spanish Prime Minister Pedro Sanchez on Tuesday, Chinese President Xi Jinping has called for strengthened bilateral cooperation between China and Spain to push back against a global retreat toward the coercive “law of the jungle” that threatens international order.

    Sanchez is in Beijing for an official working visit, marking the latest high-level exchange between the two nations aimed at deepening diplomatic and economic ties amid shifting global dynamics. During the talks, Xi highlighted that the contemporary international system is facing unprecedented instability, with a growing confrontation between two competing approaches to global governance: one rooted in the rule of law, and another that prioritizes the brute “rule of power” favored by larger nations seeking unilateral advantage.

    Against this backdrop, Xi urged both China and Spain to stand together in upholding the principles of genuine multilateralism, an approach that centers equal participation from all nations regardless of size, rather than the hegemonic order that allows stronger powers to dictate terms to smaller states. The call aligns with China’s long-standing diplomatic position of advocating for a multipolar global order and rejecting unilateralism, power politics, and the aggressive expansion of influence that harkens back to the “law of the jungle” where might makes right.

    The meeting comes as many European and Asian nations face growing pressure to align with competing global blocs, making bilateral cooperation between major economies like China and Spain a critical factor for maintaining regional and global stability. Both sides are expected to continue discussions across trade, climate action, cultural exchange and other areas in the coming days of Sanchez’s visit, with a shared focus on preserving a rules-based international system that benefits all nations.

  • Three-time World Cup finalist the Netherlands faces Japan, Sweden and Tunisia in Group F

    Three-time World Cup finalist the Netherlands faces Japan, Sweden and Tunisia in Group F

    For decades, the Netherlands has stood as one of international men’s soccer’s most enduring nearly men. Three times the Oranje have marched all the way to the FIFA World Cup final, and three times they have fallen short of lifting the sport’s most prestigious trophy—back-to-back defeats in 1974 and 1978, followed by a heartbreaker in 2010. This year, the three-time runners-up get a new chance to rewrite their legacy, drawn into Group F alongside rising Asian powerhouse Japan, resurgent Sweden, and African hopeful Tunisia, all hungry to upend the pre-tournament projections.

    Pioneers of the revolutionary ‘total football’ framework that redefined the global game in the 1970s, the Netherlands has always produced sides celebrated for their dynamic, aesthetically pleasing style—yet that magic has consistently evaporated when the final whistle of the World Cup final blows. This cycle, the Dutch are led by head coach Ronald Koeman, who is in his second stint at the helm of the national team and is desperate to end his country’s decades-long title drought. Koeman already knows what it takes to win major honors with the Netherlands, having lifted the UEFA European Championship as a player in 1988, and he reached the UEFA Nations League final during his first tenure in charge back in 2019. Today, his squad draws heavily from English Premier League talent, including defensive anchor Virgil van Dijk, dynamic midfielders Ryan Gravenberch and Tijjani Reijnders, and dynamic attacker Cody Gakpo. While the current cohort is solid, analysts widely note it lacks the elite generational talent that defined some of the Netherlands’ most iconic squads of past tournaments. Even so, the Oranje enter Group F as heavy favorites to finish top of the table and advance to the knockout round—but they are not without potential pitfalls, the most notable being 2022’s giant-killers Japan.

    Japan is making its eighth consecutive World Cup appearance this year, targeting a third straight advancement out of the group stage. The Blue Samurai were also the first team outside of this year’s three co-host nations to secure their spot in the tournament, booking their qualification with three group matches still left to play. At the 2022 Qatar World Cup, Japan authored two of the biggest upsets in modern World Cup history, knocking off both Germany and Spain on their way to topping their group—a run that sent shockwaves through the global soccer community. Still, the nation has never advanced past the round of 16, leaving its squad hungry to break that new barrier this cycle. A majority of Japan’s current national team players compete in top European club competitions, including Bayern Munich defender Hiroki Ito and Brighton & Hove Albion dynamic winger Kaoru Mitoma, both of whom have built strong reputations for outperforming expectations against elite competition.

    For Sweden, the road to this year’s World Cup was far from straightforward. The side finished bottom of its direct qualifying group without recording a single win, and only secured a spot in the qualifying playoffs thanks to its strong performances in the 2024-2025 UEFA Nations League, granting it an unexpected second chance to qualify. Under new head coach Graham Potter, who stepped into the role looking to rebuild his managerial reputation following successive club exits from Chelsea and West Ham United, Sweden defied predictions to knock out both Ukraine and Poland in the playoffs to claim its spot in the 24-team field. The side boasts elite offensive talent that makes it a dangerous outlier in the group, including in-form Newcastle United striker Alexander Isak and Sporting Lisbon forward Viktor Gyökeres, two of the most clinically finishing strikers in European soccer. Additional key talent includes young midfield star Lucas Bergvall and Manchester United winger Anthony Elanga. Sweden has its own historic World Cup memories tied to co-host nation the United States: the side finished as runners-up in 1958, and reached the semi-finals the last time the U.S. hosted the tournament in 1994, giving the side a layer of historical confidence heading into this year’s competition.

    Completing Group F is Tunisia, making its seventh World Cup appearance and still chasing its first ever advancement out of the group stage. The North African side came heartbreakingly close to breaking that streak in Qatar four years ago, beating defending champion France 1-0 and holding Denmark to a draw, only to miss out on knockout qualification by a single point. Following a disappointing early exit from the 2023 African Cup of Nations at the round of 16, Tunisia hired former head coach Sabri Lamouchi to lead the side through this World Cup cycle. A rising young star to watch for the Carthage Eagles is 21-year-old Khalil Ayari, who earned a transfer to Paris Saint-Germain ahead of this season and has recently broken through into the senior national team, bringing new energy to Tunisia’s bid to make history.

    As Group F prepares to kick off, all eyes will be on the Netherlands as it chases the title that has eluded it for half a century—with three motivated opponents all ready to turn the group’s dynamics upside down.

  • Hi Five China: Life beyond retirement in Hainan

    Hi Five China: Life beyond retirement in Hainan

    Against the backdrop of China’s rapidly aging population, the southern island province of Hainan has carved out a new reputation as the nation’s leading destination for mobile retirees, drawn by its year-round mild climate and rapidly expanding elder-focused healthcare and wellness infrastructure. To investigate the shifting landscape of eldercare in China and examine how the sector is adapting to meet surging demand from an aging demographic, China Daily reporter Yan An joined a senior wellness travel group to experience life on the bustling island first-hand.

    What the reporter uncovered during her visit challenges common outdated stereotypes about retirement. Far from marking a quiet end to active, purposeful life, retirement in Hainan is increasingly framed as a fresh beginning — a new chapter where older adults can pursue personal growth, social connection, and self-fulfillment, all backed by a fast-growing, consumer-centric senior service industry that caters to the evolving needs of modern retirees.

    This trend reflects a broader national shift in how older Chinese approach retirement, as growing affluence and improved senior-focused infrastructure allow millions to choose active, location-independent post-work lifestyles rather than remaining in their lifelong hometowns. Hainan’s rise as a preferred retirement hub also signals growing opportunities for the eldercare and senior tourism sectors, as businesses and policymakers work to keep pace with the changing demands of China’s aging population.

  • New Bunnings dog hoodies to raise funds for pets needing forever homes

    New Bunnings dog hoodies to raise funds for pets needing forever homes

    Australian hardware retail giant Bunnings Warehouse is stepping outside its core business to launch an unexpected limited-edition canine clothing line, part of a new charity campaign aimed at supporting the country’s stretched pet rescue sector, which is currently facing its highest rate of animal abandonment in two decades.

    This year marks another iteration of Bunnings’ annual Stores for Paws initiative, a long-running collaboration with national pet adoption platform PetRescue that has already delivered transformative results for animal welfare across Australia. Since the campaign launched, it has raised more than AU$500,000 for local animal welfare organizations and helped more than 700 vulnerable pets find permanent, loving homes. This year’s three-day event, scheduled to run from April 17 to 19, will center on the nationwide tradition of Bunnings sausage sizzle fundraisers, with all proceeds going to support local pet shelters.

    For the first time in the campaign’s history, the event will feature the launch of a limited-edition Bunnings-branded hoodie designed exclusively for dogs. The streetwear-style garment, which comes in sizes ranging from small to XX-large, is priced at AU$10, with AU$2 from every single sale donated directly to PetRescue. Beyond the new pet apparel and sausage sizzles, participating Bunnings locations across the country will host a range of complementary activities, including in-store pet adoption days, interactive pet-themed DIY workshops for children, and meet-and-greets with adoptable rescue animals.

    The campaign arrives at a critical juncture for Australia’s pet rescue sector. New data released by PetRescue shows that the number of abandoned pets currently waiting for adoption is at a 20-year high, with more than 8,300 animals listed on the platform awaiting forever homes. The surge in abandonments has been linked to ongoing financial pressures, housing instability, and major life shifts impacting Australian households, factors that have left rescue organizations stretched far beyond their operational capacity.

    Patima Tantiprasut, chief executive officer of PetRescue, explained that the organization and its partner shelters spend an estimated AU$280,000 every day just to cover basic care for the cats and dogs in their networks. “The rescue community is completely stretched,” Tantiprasut said. “They’re getting put in the impossible position of deciding which pets they can save versus which they don’t have the capacity to take in. This initiative comes at such a crucial time, it’s important for the rescue sector to have this kind of support behind them and the recognition.”

    Funds raised through the 2024 Stores for Paws campaign will go directly toward covering essential care costs for pets waiting for adoption, including housing, daily food, and urgent veterinary care. Michelle Walter, head of community at Bunnings Warehouse, noted that the initiative builds on the longstanding culture of customers bringing their own dogs into Bunnings stores, turning that shared love of pets into tangible support for rescue animals. “At Bunnings, we love pets. Our customers love bringing their dogs into our stores, and Stores for Paws is about turning that love into real support for rescue pets,” Walter said. “This initiative celebrates the incredible work local rescue groups do, while helping more pets find safe, loving homes.”

    Tantiprasut added that even a small increase in adoption rates would have an extraordinary impact on the current backlog of homeless pets: if just one percent of Australian households chose to adopt, every pet currently in PetRescue’s care would have a home for the next three and a half years. To date, more than one million vulnerable pets have found permanent homes through PetRescue’s national adoption network.

  • Senior CPPCC official charged for bribery

    Senior CPPCC official charged for bribery

    In a formal announcement released on Tuesday, China’s top prosecuting body confirmed that Bi Jingquan, a former senior official of the country’s top political advisory body, has been officially indicted on bribery charges by prosecutors from Shandong Province. The case against Bi was first investigated and concluded by the National Commission of Supervision, China’s top anti-corruption watchdog, before being handed over to prosecuting organs for mandatory review and the filing of formal legal charges. Jurisdiction over the case was assigned to prosecutors based in Jinan, the capital city of Shandong Province, who have now submitted their official indictment to the Jinan Intermediate People’s Court to move the legal process forward. According to the indictment details, Bi is alleged to have abused authority across multiple senior positions he held throughout his decades-long career. These roles include former head of the National Medical Products Administration, former deputy head of the State Administration for Market Regulation, and former deputy head of the Committee on Economic Affairs of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), China’s top political advisory body. Prosecutors claim Bi exploited these positions to secure improper benefits for third parties in exchange for accepting large sums of money and high-value valuables, which meets the legal criteria for criminal bribery. Prosecutors emphasized that throughout the entire review and prosecution procedure, Bi was fully informed of all his legal rights as a defendant, and the legal arguments and defense positions submitted by Bi’s legal representation were formally reviewed and considered ahead of the indictment being filed. Bi, now 70 years old, is a native of Heilongjiang Province in northeast China. He joined the Communist Party of China in March 1978 and entered official public service in February 1982. Over his four-decade career, he held senior leadership roles across multiple key national regulatory and economic bodies, including the former national price bureau, the National Development and Reform Commission, the National Medical Products Administration, and the State Administration for Market Regulation. In August 2020, Bi took up his post at the Committee on Economic Affairs under the CPPCC National Committee, and later also held key positions at the China Center for International Economic Exchanges, a leading national economic think tank. The indictment marks a key step forward in the country’s ongoing anti-corruption campaign, which targets misconduct by public officials at all levels across government and political advisory bodies.

  • Xi puts forward four-point proposal on promoting Middle East peace, stability

    Xi puts forward four-point proposal on promoting Middle East peace, stability

    BEIJING — In a high-profile bilateral meeting held in the Chinese capital on Tuesday, President Xi Jinping laid out a structured four-point proposal designed to advance lasting peace and long-term stability across the Middle East. The talks took place during a working visit by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi of the United Arab Emirates.
    Against a backdrop of ongoing regional tensions and unresolved conflicts that have rippled across the globe, President Xi’s proposal outlines four core guiding principles to steer future peace efforts. First, it calls for universal adherence to the fundamental principle of peaceful coexistence between all regional states, regardless of differing political systems, religious traditions or strategic outlooks. Second, it emphasizes unwavering respect for the inviolable principle of national sovereignty, a cornerstone of modern international relations that underpins the territorial integrity of every nation in the region. Third, it prioritizes consistent commitment to the rule of law in international affairs, establishing clear, shared norms to govern interactions between states and resolve disputes through peaceful, rule-based channels. Finally, the proposal calls for coordinated, integrated advancement of development initiatives and security frameworks, recognizing that sustained economic progress and collective security are mutually reinforcing pillars of stable societies.
    The proposal comes as China expands its diplomatic engagement in the Middle East, positioning itself as a neutral broker committed to de-escalation and inclusive dialogue between regional actors. The meeting between President Xi and the Abu Dhabi Crown Prince also underscores the deepening bilateral ties between China and the United Arab Emirates, spanning trade, energy, security and cultural cooperation.

  • Xi calls for full respect for sovereignty, security, territorial integrity of countries in Middle East, Gulf region

    Xi calls for full respect for sovereignty, security, territorial integrity of countries in Middle East, Gulf region

    BEIJING – In a high-profile bilateral meeting held in Beijing on Tuesday, Chinese President Xi Jinping held talks with Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi of the United Arab Emirates, and laid out China’s core stance on regional stability in the Middle East and Gulf region. During the discussion, President Xi emphasized that the fundamental principles of international relations must be upheld in the region, starting with the full and unwavering respect for the sovereignty, national security, and territorial integrity of all countries in the Middle East and Gulf. Beyond core state interests, Xi also called for effective protection of the safety of foreign personnel, infrastructure, and official institutions of all nations operating within the region. This meeting comes amid ongoing geopolitical tensions that have shaken confidence in regional security, and China’s stance reflects its long-standing commitment to a balanced, rules-based approach to Middle East affairs. As a major global power with extensive economic and diplomatic ties to the Gulf region, China has consistently pushed for a collective security framework that centers the interests and agency of regional countries, rather than external interference. The discussion between Xi and the Abu Dhabi Crown Prince also aligns with China’s broader call for building a common, comprehensive, cooperative, and sustainable security architecture for the Middle East and Gulf region, a position the country has promoted in multiple multilateral forums. This diplomatic engagement underscores the deepening bilateral relations between China and the United Arab Emirates, while reaffirming China’s role as a responsible stakeholder in global peace and security efforts.

  • Thousands gather in Poland for the annual March of the Living on Holocaust Remembrance Day

    Thousands gather in Poland for the annual March of the Living on Holocaust Remembrance Day

    On Tuesday, Holocaust survivors from across the globe converged on the former site of the Auschwitz concentration camp in southern Poland to take part in the March of the Living, an annual pilgrimage to honor the memory of the 6 million Jews systematically murdered by Nazi Germany and its collaborators during the Second World War. This year’s observance fell on Holocaust Remembrance Day on the Jewish calendar, marking the 38th iteration of the event that draws participants from every corner of the world.

    Fifty survivors joined this year’s march, with many making the journey to Poland from Israel despite significant travel disruptions. Organizers confirmed that airspace restrictions linked to the ongoing Iran conflict created logistical hurdles that did not stop survivors from attending the commemoration.

    The 3-kilometer trek starts at the Auschwitz camp and ends at the adjacent Birkenau site, the largest of the Nazi death camps built during the occupation of Europe. It was at Birkenau where hundreds of thousands of Jews from across the continent were unloaded from deportation trains and immediately executed in purpose-built gas chambers. Today, both sites stand as preserved memorials to the atrocities of the Holocaust.

    This year’s gathering comes at a moment of surging anti-Jewish hatred across the globe, a trend organizers and participants have warned echoes the conditions that allowed the Holocaust to unfold. Revital Yakin Krakovsky, deputy chief executive of the International March of the Living, the group that organizes the annual event, stressed that the lessons of the Holocaust have not been fully absorbed by the modern world. “Since Oct. 7, anti-Semitism has surged and is spreading everywhere,” she said. “The scale and normalization of this hatred echoes the dark times we have seen before and, today of all days, we know how it ended.”

    Among the special guests at this year’s march were survivors of recent anti-Semitic attacks, including survivors of the December mass shooting at a Hanukkah celebration on Sydney, Australia’s Bondi Beach that left 15 people dead. Hannah Abesidon, whose father Tibor Weitzen — a 78-year-old Holocaust survivor — was killed in that attack, shared her family’s story with march participants. “My father didn’t make it because he was a Jew,” Abesidon said. “It starts with the Jews but it doesn’t end with the Jews,” she added, emphasizing the broader threat that unchecked prejudice poses to all global communities.

    For nearly four decades, the March of the Living has brought together thousands of participants each year, including not just Holocaust survivors, but also Jewish youth, community leaders, and elected officials from across the world. The event remains one of the most high-profile global efforts to educate the public about the Holocaust and push back against rising anti-Semitism and historical revisionism.

  • Middle East conflict to fuel higher inflation in Australia, IMF warns

    Middle East conflict to fuel higher inflation in Australia, IMF warns

    Global economic watchdog the International Monetary Fund (IMF) has issued a stark, long-term forecast for Australia’s economy, warning that skyrocketing cost of living pressures will continue plaguing household budgets until the end of 2027, driven largely by volatile oil prices stemming from ongoing military conflict in the Middle East.

    In its most recent regional economic outlook, the IMF projects that Australia’s inflation will stay well above the Reserve Bank of Australia (RBA)’s 2-3% target band for more than two years. Forecasts put national inflation at 4% in 2026, with only a gradual cooling to 3.2% by 2027. Alongside persistent price growth, the fund also predicts a marked slowdown in real GDP growth, which strips out inflation to measure underlying economic expansion. Real output is expected to dip to 2% in 2026 before falling further to 1.7% in 2027.

    The root cause of this extended economic pressure, officials and analysts agree, is the disruption to global oil markets triggered by the Middle East conflict between US-aligned Israel and Iran, which has threatened traffic through the Strait of Hormuz — a strategic chokepoint that carries roughly one-fifth of the world’s daily oil supply. Six weeks before the conflict began, global crude traded at roughly US$56 (AU$80) per barrel; today, prices hover around US$100 (AU$143) per barrel. For Australian motorists, every US$10 per barrel increase in crude translates directly to an extra 10 cents per litre at the petrol pump, squeezing household budgets that are already stretched thin.

    Treasurer Jim Chalmers has framed the crisis as an imported external shock, noting that Australian households are paying a steep price for instability thousands of kilometers away. “The costs and consequences of the conflict in the Middle East will be felt for some time, in Australia and around the world,” Chalmers said. Outlining the federal government’s policy response, he added: “We’re taking decisive action to address this global fuel challenge, by halving the fuel excise to help with the cost of living, holding petrol companies to account, working to secure more fuel and get it to where it’s needed in our economy, and engaging internationally.”

    The IMF’s warning extends far beyond Australia, emphasizing that the conflict has already tested the resilience of the global economy that has only just begun recovering from a series of overlapping shocks in recent years. “The global economy has, to date, withstood a series of shocks, yet another one — this time a military conflict engulfing the Middle East since the end of February — is testing this resilience,” the fund said in its report. “The conflict has already inflicted humanitarian costs, damaged critical infrastructure, and severely disrupted maritime and air traffic in the affected region.”

    For global economies including Australia, the spillover effects come through multiple channels: direct upward pressure on commodity prices, secondary ripple effects that push up long-term inflation expectations (which are particularly sensitive to shifts in energy and food prices), and market volatility triggered by risk-off investor sentiment.

    Domestically, the RBA has signaled that the oil price shock could derail progress on taming inflation, forcing potential adjustments to interest rates that would add further pressure to Australia’s 1.5 million mortgage holders. RBA deputy governor Andrew Hauser acknowledged that policymakers lack high confidence that current interest rate settings are sufficiently restrictive to bring inflation down to target. “I wouldn’t say we have high confidence that we’ve set interest rates at the right level because you never do have that high confidence. But we’re going to have to monitor this new shock pretty carefully,” Hauser said. “I think it is easy to see that upside inflation pressure. More important for us now is to think through what the medium-term impact might be.” Hauser added that the current energy price spike from the Gulf conflict amounts to a “big income shock for Australia”, at a time when inflation is already “too high”.

    Before the conflict erupted on February 28, Australia’s inflation had shown early signs of easing, with the Consumer Price Index falling to 3.7% in February, down 0.1 percentage point from January. But that progress is now at risk, and already the shock has gutted economic sentiment across both households and businesses. Two of Australia’s largest four banks have released new surveys showing dramatic drops in confidence in the weeks since the conflict began.

    The monthly Westpac-Melbourne Institute Consumer Confidence Index plummeted 12.5% to 80.1 in April, a reading deep in pessimistic territory — any score below 100 signals that more consumers hold negative expectations for the future than positive. National Australia Bank’s (NAB) monthly business survey found an even starker drop: business confidence fell 29 points to minus 29 index points, marking the second largest monthly fall in the survey’s 37-year history. Only the 2008 Global Financial Crisis and the 2020 onset of the COVID-19 pandemic have seen steeper one-month drops in business confidence.

    Gareth Aird, head of Australian economics at NAB, noted that while the shock has so far had limited impact on actual business activity, the collapse in sentiment signals significant uncertainty ahead. “The outbreak of the conflict in the Middle East saw business confidence fall 29 points to minus 29 index points, the second largest monthly fall in the survey’s history, with falls of this magnitude previously only seen in the GFC and the onset of Covid,” Aird said. “Business conditions fell only one point to six index points in March, reflecting that while the global news backdrop has impacted sentiment, it is still early days in terms of the flow through to activity.”