Economy
Dubai International Airport, the world's busiest hub for international passenger traffic, recorded a 65.7 percent year-on-year drop in passenger numbers in March 2026, welcoming just 2.5 million travelers as the conflict involving the United States, Israel, and Iran triggered repeated airspace closures......
The OPEC+ alliance, which brings together major oil-producing countries, has held its first major meeting following the departure of the United Arab Emirates (UAE), a development that has raised questions about the group’s cohesion and future influence on global energy markets. The meeting included......
Russia has expressed confidence in the stability of the OPEC+ alliance, stating that cooperation among major oil producers will continue despite the recent decision by the United Arab Emirates to leave the group. Deputy Prime Minister Alexander Novak emphasized that the departure of one member is unlikely......
Oil prices surged to multi-month highs as Brent crude crossed the 115 dollar mark, driven by a sharp shift in global supply expectations following the United Arab Emirates’ decision to leave the OPEC alliance and rising tensions between the United States and Iran over maritime access through the......
Oil prices extended their upward momentum on Wednesday as geopolitical tensions intensified around Iran and global supply risks deepened. Traders reacted to renewed threats from United States President Donald Trump and escalating uncertainty in the Middle East, pushing crude benchmarks to multi month......
The United Arab Emirates’ decision to leave OPEC has intensified scrutiny of the oil cartel’s cohesion, as analysts warn that tensions over production quotas could push other members to follow. The move highlights long-standing divisions within the group, particularly between countries investing......
The head of the International Energy Agency has warned that the disruption in the Strait of Hormuz may trigger lasting changes in global energy markets, even if the passage reopens. Executive director Fatih Birol said the era of heavy dependence on a single maritime chokepoint is nearing its end, adding......
The White House said the United States is prepared to provide financial support to the United Arab Emirates if the ongoing war with Iran worsens the country’s economic outlook. National Economic Council director Kevin Hassett stated that such assistance remains a contingency measure and is not......
The United Arab Emirates has warned it may begin settling oil and gas transactions in Chinese yuan if the United States does not provide a dollar liquidity backstop. The message was delivered during high-level meetings in Washington between the UAE central bank governor Khaled Mohamed Balama, US Treasury......
Paramount Skydance is close to securing $24 billion in equity commitments from three Gulf sovereign wealth funds to help finance its $81 billion acquisition of Warner Bros. Discovery, the Wall Street Journal reported Sunday, in a deal that would end weeks of uncertainty over whether Middle Eastern capital......
Escalating conflict in the Middle East erased approximately $62 billion from the combined wealth of Southeast Asian billionaires in March, reshuffling the region's richest rankings as Asia-Pacific stock markets buckled under surging energy prices and a collapse in investor confidence. The 150 ASEAN......
Iranian drones struck the Mina al-Ahmadi oil refinery in Kuwait on Friday morning, igniting fires across multiple operational units in the latest attack on Gulf energy infrastructure since the U.S.-Israeli air campaign against Iran began in late February. Kuwait Petroleum Corporation told the official......
The Maltese-flagged container ship Safeen Prestige has sunk in the Strait of Hormuz, nearly a month after being struck by a projectile and abandoned by its crew, according to a maritime traffic advisory issued by regional operators on April 1. The vessel went down approximately 6.5 nautical miles northeast......
