Thursday 26 - 13:50
March proved brutal for major global macro hedge funds as fallout from US-Israeli strikes on Iran rocked world markets. Bridgewater Associates largely sidestepped the damage. Its flagship $92 billion Pure Alpha strategy fell less than 1 percent for the month through last Friday, a person familiar with the fund told Business Insider. Rivals......
US and Israeli military strikes on Iran since February 28 have thrown Asia's $19 billion used car export industry into disarray. Ships avoid the Middle East, stranding cargoes at sea and overwhelming ports from Sri Lanka to China. Dealers feel the impact acutely. Umar Ali Hyder Ali runs Yokohama-based Kobe Motor, which ships about 18,000......
The US dollar eased slightly in Asian trading Thursday. Investors parsed prospects for diplomatic efforts to de-escalate the US-Israel-Iran conflict. Expectations for Federal Reserve rate hikes by year-end fell. The US dollar index, tracking the currency against six major peers, dropped 0.1 percent. It hovered near 99.5 after its biggest......
Researchers from University of Haifa have uncovered what they describe as the oldest known shipment of raw iron transported by sea, dating back about 2,600 years. The discovery was made during an underwater excavation off Israel’s northern Mediterranean coast, in the Dor lagoon near the Carmel shoreline. The team recovered nine pieces......
Nearly one month after US and Israeli strikes hit Iran on February 28, the effective Strait of Hormuz closure triggered Asia's worst energy crisis in decades. Regional governments rolled out fuel rationing, cut workweeks, and scrambled for alternative supplies. Asia depends on over 80% of the oil and LNG normally passing through the strait. Oil......
Jet fuel prices have more than doubled since the US-Israeli war against Iran began late February. They surpassed $4 per gallon this week, per Airlines for America data. Airlines globally pass costs to travelers amid peak spring break and rising summer bookings. United Airlines CEO Scott Kirby warned employees on March 20 of the hit. Fuel......
An Israeli airstrike targeted Sahel Alma, a Christian city north of Beirut, on Tuesday. State media and Reuters reported it as the first strike on this area amid the escalating Israel-Hezbollah war. Witnesses heard multiple explosions and saw white smoke rising, though no immediate casualties emerged. The attack signals Israel's air campaign......
European markets surged Wednesday after reports of a US ceasefire proposal to Iran sparked hopes for de-escalation in the month-old Middle East conflict. The advance lifted travel and finance stocks while pushing oil below $100 a barrel. The STOXX 600 rose 1.3% to 586.73 points mid-morning in London, recouping losses from a volatile war-tied......
A UN report briefed to the Security Council on March 24 revealed continued high levels of Israeli settlement activity in the occupied West Bank and East Jerusalem. Planning authorities advanced or approved more than 6,000 housing units over three and a half months. Eight Council members issued a joint statement demanding an immediate halt......
Silver climbed sharply in early trading on March 25, breaking above $73 per ounce as investors continued to seek refuge in precious metals amid a US-Iran conflict now approaching its fourth week. The white metal gained more than 5% from the previous session's close, according to COMEX futures data, extending its recovery from a March low......
The fourth week of conflict involving the United States, Israel, and Iran has sent crude oil prices surging past $100 per barrel for the first time since 2022, as Iran's effective closure of the Strait of Hormuz disrupts roughly 20% of global oil supply. The crisis has intensified calls for a structural shift away from fossil fuels and......
Deutsche Lufthansa has extended the suspension of several routes to the Middle East as the conflict involving Iran enters its fourth week with no clear signs of de escalation. The airline said flights to Dubai and Tel Aviv will remain suspended until May 31, while services to Abu Dhabi, Beirut, and Tehran are halted until October 24. The......
Air France has announced an extension of the suspension of its flights to and from Dubai and Riyadh until March 31, and to and from Tel Aviv and Beirut until April 4. The airline cited security concerns at these destinations and the closure of certain airspaces as the main reasons for the continued suspension. Passengers affected by the......
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