INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Vance rules out talks as Tehran warns of ‘multi-layered’ response to US attacks

An Iranian woman participates in a pro-Government rally in Tehran, Iran, on January 12, 2026. (AFP file)
  • Tehran vows a layered response to US strikes, while its petroleum minister says exports continue despite Washington’s blockade.
  • Seoul weighs military support for Hormuz navigation as European pressure grows and crude prices post sharp weekly gains.

US Vice President JD Vance said all options remained on the table against Iran and ruled out talks unless Tehran halts attacks on commercial shipping in the Strait of Hormuz.

Vance said he would not describe the conflict as a war despite continuing clashes, according to France 24.

Iran’s First Vice President Mohammad Reza Aref threatened an “asymmetrical” and “multi-layered” response to US attacks.

Israeli Prime Minister Benjamin Netanyahu said overthrowing Iran’s leadership was the next main mission and claimed the goal was within reach.

Pressure builds around Iran

Iranian Petroleum Minister Mohsen Paknejad said the country’s oil industry continued to “circumvent” the US blockade, describing the task as difficult but manageable.

US Treasury Secretary Scott Bessent said the European Union had officially joined Washington’s economic pressure campaign against Iran, which he called “Operation Economic Outcast.”

Oil prices rose as renewed US-Iran hostilities heightened concerns about Middle East supply risks. Brent crude rose 0.2 percent to $95.67 a barrel, while West Texas Intermediate gained 0.3 percent to $91.56.

Brent was up 7.1 percent for the week and WTI 9.8 percent, their biggest weekly gains since the week ending July 20.

Hormuz navigation concerns

South Korea is reviewing practical options, including military measures, to support freedom of navigation through the Strait of Hormuz.

A Blue House official rejected claims that Seoul had provided no assistance, while saying South Korea-US security talks were not currently progressing. Semiconductors were among the issues discussed.

Regional tensions spread

Iranian authorities said they had captured a significant weapons cache after clashing with armed smugglers along the border with Pakistan.

The cache included RPG-7 launchers and projectiles, as well as thousands of AK-47 and M4 rounds, according to Iran’s Fars news agency. Tehran said the weapons were being smuggled in to carry out sabotage and create insecurity.

In Yemen, government forces said they repelled Houthi attacks in areas west of Taiz and shot down three drones. The internationally recognized government said it had regained some territory previously held by the Houthis.

West Bank: raids, arrests and settlement expansion

Two Palestinian teenagers, Khalil Rasem Khalil Shahada, 16, and Omar Mohammad Naji al-Nassan, 19, were buried after being killed by Israeli forces in Al-Mughayyir, east of Ramallah.

Palestinian authorities said the teenagers were killed by the Israeli army, while the Israeli military said its forces opened fire during a “violent riot.”

Israeli forces also raided several West Bank areas, arrested at least 19 Palestinians and issued demolition orders for four homes near Jenin.

In southern areas, settlers continued attacks on Palestinians and their land, while Israeli authorities inaugurated the Ma’ale Arugot settlement in the Gush Etzion bloc.

Gaza and Lebanon

The death toll from a US attack on a wedding party in Sirik rose to five.

Israeli media reported that the Israeli military could be preparing attacks on Lebanon, while the Israeli military confirmed killing two Palestinians in northern Gaza. A separate drone attack in Gaza City killed one person and wounded several others.

US Congresswoman Delia Ramirez called on Congress to pass the “Block the Bombs Act,” saying US bombs were killing civilians in Palestine and Iran.