INSEAD Day 4 - 728x90

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Seizure of vessel anchored near UAE coast close to Hormuz raises Gulf tensions

An Iranian Navy warship takes part in the "National Persian Gulf day" in the Strait of Hormuz. (File AFP)
  • Malaysia warned Iranian-linked “shadow fleet” oil transfers near its waters exploited maritime loopholes across major Asian shipping corridors.
  • Iran staged a mass World Cup departure rally in Tehran despite continuing uncertainty surrounding travel and participation in the United States.

A vessel anchored near the United Arab Emirates coast close to the Strait of Hormuz was seized by unidentified personnel and redirected toward Iranian territorial waters on Thursday, according to the United Kingdom Maritime Trade Operations centre, intensifying concerns over Gulf shipping security.

The maritime agency said the vessel had been taken while anchored around 38 nautical miles northeast of Fujairah and was now heading toward Iranian waters. The agency did not identify the ship or those responsible.

The incident came hours after India condemned an attack on an Indian-flagged vessel off Oman’s coast, calling continued assaults on commercial shipping “unacceptable”. Indian authorities said all crew members aboard the ship were safe.

Lebanon tensions deepen ahead of Washington talks

Israel’s military said it had launched strikes against Hezbollah infrastructure across southern Lebanon after issuing evacuation warnings to residents in several towns and villages in Lebanon’s south and Bekaa region.

The Israeli military also reported that a Hezbollah drone strike injured several civilians near the Israel-Lebanon border. The injured were evacuated for medical treatment, according to the military.

The escalation unfolded ahead of new US-brokered peace talks between Lebanon and Israel in Washington as the latest ceasefire arrangement approaches expiry.

Iran-China shipping cooperation expands

Iran’s semi-official Fars news agency reported that Tehran had begun allowing some Chinese vessels to transit through the Strait of Hormuz under agreed Iranian management protocols.

The report said the arrangement followed discussions involving Chinese diplomatic officials and reflected the strategic partnership between Tehran and Beijing. The development coincided with US President Donald Trump’s visit to China, where he and Chinese President Xi Jinping reportedly agreed on maintaining open energy routes through the strait.

Separately, Iran’s Foreign Minister Abbas Araghchi accused the United Arab Emirates of involvement in military operations against Iran during a BRICS meeting in New Delhi, according to Iran’s Mehr news agency. The UAE has denied reports related to Israeli Prime Minister Benjamin Netanyahu visiting the country.

Palestinian leadership vote returns after decade

Palestinian President Mahmoud Abbas’s Fatah movement opened a three-day conference to elect a new central committee for the first time in a decade.

The vote comes amid growing scrutiny of the movement’s legitimacy following the Gaza war and continued Israeli settlement expansion. Analysts say the committee could shape succession plans in a potential post-Abbas era.

Meanwhile, a US judge temporarily suspended sanctions imposed on UN expert Francesca Albanese after ruling that protecting freedom of speech remained in the public interest.