Yesterday 11:50
A billionaire aviation executive based in Dubai has warned that airlines around the world could begin filing for bankruptcy within weeks if the war in Iran continues to drive jet fuel prices higher, even as the shipping industry posts record profits fueled by the same geopolitical upheaval. Gediminas Ziemelis, chairman of Avia Solutions Group,......
Bernard Arnault, chairman of LVMH, shed roughly $55.9 billion from his net worth during the first three months of 2026, according to the Bloomberg Billionaires Index, as the world's largest luxury conglomerate recorded its steepest quarterly stock decline on record. The losses reduced his fortune to approximately $152 billion and pushed......
Several Gulf states have privately conveyed serious concerns to the Trump administration over the president's threats to target Iranian desalination plants, warning that such strikes could trigger catastrophic retaliation against their own water infrastructure. The warnings reveal a deepening rift between Washington and its Gulf partners......
Traders placed a record $977 million against crude oil in March, pouring capital into the ProShares UltraShort Bloomberg Crude Oil ETF in the largest monthly inflow the fund has recorded since its launch in November 2008. The bet has so far gone badly wrong. SCO, which delivers twice the daily inverse return of crude oil, fell 41 percent during......
The war between the United States, Israel, and Iran has evolved into a full-blown aviation crisis, with jet fuel prices more than doubling in a matter of weeks, airlines slashing capacity, and millions of passengers left in uncertainty as vast portions of Middle Eastern airspace remain closed or restricted. Jet fuel prices surged from around......
Iranian missile and drone strikes against two of the Middle East's largest aluminium smelters over the weekend have thrown global supply chains into disarray, driving prices to their highest level in four years and raising the prospect of a prolonged market deficit. Emirates Global Aluminium confirmed Saturday that its Al Taweelah smelter......
The United Arab Emirates is preparing to deploy its navy as part of a multinational coalition to forcibly reopen the Strait of Hormuz, a move that took on added urgency Tuesday after President Donald Trump suggested the United States could withdraw from the conflict with Iran within two to three weeks and leave the security of the waterway......
Toyota Motor reported a 2.3% decline in global sales for February, releasing the figures Monday as Japanese automakers face mounting supply chain disruptions stemming from the Middle East conflict, now entering its fifth week. Total sales, including subsidiaries Daihatsu Motor and Hino Motors, fell to 806,905 units, weighed down by fierce......
TotalEnergies generated more than $1 billion in profit this month by cornering the Middle East crude oil market during one of the most volatile periods in energy trading history, according to reporting by the Financial Times and Bloomberg. The French energy giant's trading arm purchased 69 cargoes of benchmark Dubai crude through the......
The United Arab Emirates came under drone and missile attacks on Sunday, the country’s Ministry of Defense reported. According to official statements, the UAE Air Defense is actively responding to intercept threats posed by incoming missiles and unmanned aerial vehicles. The ministry emphasized that its defense systems are fully engaged......
Two recent studies reshape scientists' view of the Sun's hidden magnetic interior. Researchers at the New Jersey Institute of Technology analyzed nearly 30 years of solar oscillation data from NASA's Solar and Heliospheric Observatory, Solar Dynamics Observatory and the ground-based Global Oscillation Network Group. Their findings,......
The United Arab Emirates has expressed its willingness to participate in a multinational maritime initiative aimed at restoring navigation through the strategically vital Strait of Hormuz, according to international media reports. The proposed operation would involve a coalition of countries working together to secure shipping routes and......
Iran has likely collected hundreds of millions of dollars in additional oil revenue since the U.S.-Israeli military campaign began on February 28, exploiting its unique position as the only major Persian Gulf producer still able to ship crude through the Strait of Hormuz. The windfall represents a central paradox of the conflict: the war has......
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First 100 days of the second Donald Trump presidency
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