The escalation between Israel and Hamas could deal a “serious” blow to global economic development, the president of the World Bank has told an investor conference in Saudi Arabia, AFP reports.

“What just happened recently in Israel and Gaza — at the end of the day you put all this together, I think the impact on economic development is even more serious,” Ajay Banga said, adding: “I think we’re at a very dangerous juncture.”

Opinion

Editorial

Shifting climate tone
Updated 08 May, 2026

Shifting climate tone

Our financial system is geared towards short-term, risk-averse lending, while climate adaptation and green infrastructure require patient, long-term capital.
Honour and impunity
08 May, 2026

Honour and impunity

THE Sindh Assembly’s discussion on karo-kari this week reminds us of the enduring nature of ‘honour’ killings...
No real change
08 May, 2026

No real change

THE Indian sports ministry’s move to allow Pakistani players and teams to participate in multilateral events ...
A breakthrough?
07 May, 2026

A breakthrough?

The whole world would welcome an end to this pointless war.
Missed opportunity
07 May, 2026

Missed opportunity

A BIG opportunity to industrialise Pakistan has just passed us by. This has been reconfirmed by the investment...
Punishing dissent
07 May, 2026

Punishing dissent

THE Sindh government’s treatment of the Aurat March this week was a disgraceful assault on democratic rights. What...