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Geostrategy
Starmer says UK pushing to reopen Strait of Hormuz, insists Iran conflict ‘not our war’
British Prime Minister Keir Starmer on Wednesday said the United Kingdom is working with a coalition of countries to ensure maritime security in the Gulf and push for the reopening of the Strait of Hormuz amid the ongoing US-Israel conflict with Iran.
Geostrategy
The global price tag of war in the Middle East
This is not only a regional crisis. It is a structural shock to the world economy, delivered at a moment of geoeconomic fragility. The longer it runs, the more lasting the damage becomes. First it hits oil, gas, shipping and aviation; then inflation, industrial costs and food security; and eventually trade routes, investment decisions and political stability, Robert Muggah Founder, Igarapé Institute writes.
The asymmetry at the heart of this war’s economic geography is stark. The US imports relatively little oil through Hormuz. More than 80% of oil and LNG shipped through the strait in 2024 went to Asian markets, with China, India, Japan and South Korea the primary destinations, he adds.
AWS outage in Gulf raises reliability concerns as services remain disrupted over a week after strikes
Cloud services operated by Amazon Web Services (AWS) in the Gulf region continue to face disruptions more than a week after drone strikes damaged data centre infrastructure, raising concerns about the reliability of critical digital systems in an increasingly volatile geopolitical environment.
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‘Strait of Hormuz disruption could trigger long-term shift in global trade and energy flows’
Kelsey Goodman of the World Economic Forum discusses Strait of Hormuz disruptions, global trade risks, and how GCC economies can turn crisis into opportunity.
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Geostrategy
Middle East conflict: Trade tensions rise as oil jumps and tariffs shake markets
Several ports suspended operations in the Middle East after drone strikes. DP World said operations at Jebel Ali port in Dubai, one of the world's busiest container ports, had been suspended due to a fire after "aerial interception," he adds.
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Traditional coffee roaster reflects Saudi heritage
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Starmer says UK pushing to reopen Strait of Hormuz, insists Iran conflict ‘not our war’
British Prime Minister Keir Starmer on Wednesday said the United Kingdom is working with a coalition of countries to ensure...
Geostrategy
Company News
The global price tag of war in the Middle East
The asymmetry at the heart of this war’s economic geography is stark. The US imports relatively little oil through Hormuz. More than 80% of oil and LNG...
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Dubai’s innovation ecosystem is entering a new phase, argues Amer Abdulraoof, Head of Dubai Future Solutions – Prototypes for Humanity,...
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Traditional coffee roaster reflects Saudi heritage
The mahmas is typically made of thick iron or copper and consists of a hollow cylindrical disc with a long...
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Supply chain attacks emerge as top cyber threat to businesses: Study
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Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
- Dubai brings public and private sectors together to address logistics disruptions and ensure smoother trade flows.
- Industry leaders explore practical solutions to enhance efficiency and adapt to evolving global supply chain pressures.
Economy
UAE Central Bank to hold rate after Fed pause amid regional tensions
Fed Chair Jerome Powell signalled a cautious approach, noting that elevated energy prices and geopolitical tensions could complicate the inflation...
- The CBUAE said it would also maintain the rate applicable to short-term borrowing at 50 basis points above the Base Rate for all standing credit facilities.
- Central Banks of GCC countries --Kuwait remains a partial exception-- typically adjust their policy rates in lockstep with the Fed, as their currencies being pegged to the dollar.
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- However, the report also found that law enforcement authorities are collaborating more effectively.
- Since 2024, the number of fraud-related Notices and Diffusions has increased by 54 percent.