The global loss of wetlands threatens to cost the world up to $39 trillion in economic benefits by 2050, according to a new report released by the Convention on Wetlands on Tuesday.

Explosions at Iran’s Shahid Rajaee port have resulted in an estimated $4 billion in economic losses, amounting to approximately 2% of the country’s GDP, Iranian media reported on Wednesday.

The Spanish economy could incur losses of one bln euro as a result of Monday's massive blackout, the local newspaper The Objective said citing market watchers.

The two biggest fires ravaging Los Angeles this week have burnt down more than 10,000 homes, buildings and other structures this week, according to officials, News.az reports citing Euronews.

Central Europe is facing its most severe floods in decades, likely leading to economic losses in the billions, News.Az reports citing Euronews .