The Latest Breaking News from Gulf

UAE Approves Crypto Payments For Government Fees, Names Its First Licensed Platform

The United Arab Emirates has approved cryptocurrency payments for government fees, marking another step in the Gulf nation's effort to integrate digital assets into its financial system.

International Business Times · May 12

UAE’s secret attack on Iran risks drawing Gulf states into the war

If current precarious ceasefire between US and Iran ends, Emirates are more likely to be targeted by Tehran

The Guardian - UK · May 12

How the U.S.‑Israel war against Iran is exposing the limits of the petrodollar system

For the first time since the Second World War, excluding the COVID-19 pandemic, public debt in the United States has surpassed the entire economy’s GDP. As of late March, debt held by the public reached US$31.27 trillion, just ahead of the GDP of US$31.22 trillion.

The Conversation · May 12

The battle for Hormuz risks sparking the next Iran clash

Iran is now controlling passage through the Strait of Hormuz. This new arrangement could continue even after the current conflict ends. Gulf exporters and buyers are uneasy about Iran dictating oil and gas flows. The United States opposes this shift in control. The future of the Gulf hinges on who…

The Economic Times · May 12

Missiles over Dubai rattle the Gulf’s billion-dollar money machine

The Gulf's image as a safe financial haven is under strain as regional conflicts disrupt deals and deter investors. Once booming IPO markets are slowing, with billions in transactions stalled. Even Dubai's property sector and major projects face delays and rising costs, forcing a reassessment of risk premiums.

The Economic Times · May 12

Petroleum coke shortage may hit aluminium production outside Gulf too: JP Morgan

Global aluminium production faces potential disruptions beyond the Gulf due to worsening petroleum coke shortages, a key raw material. JPMorgan Chase & Co. reports that a prolonged Strait of Hormuz closure could impact producers worldwide, potentially leading to operational challenges and production cuts. The market is already experiencing supply issues,…

The Economic Times · May 12

Mass starvation looms if fertilisers can’t pass key waterway, UN warns – as it happened

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The Guardian - AU · May 12

Inside the Texas Water Crisis Pitting Residents Against Industry

As lakes, reservoirs and groundwater wither away, some Gulf Coast residents see costly desalination plants as the last hope.

Capital & Main · May 11

London Heathrow airport traffic dips due to Mideast war

London's Heathrow Airport announced Monday that passenger numbers dropped in April as the Middle East war disrupted global air travel. Heathrow, Europe's busiest airport, said that the decline reflected "the ongoing impact of the Middle East conflict on some markets and short-term adjustments to travel plans."

The Economic Times · May 11

Trump calls Iran’s response to peace plan ‘totally unacceptable’ as ceasefire frays

US president expresses ire at Tehran’s reported demands, as drones strike Gulf nations and Israel warns war ‘not over’

The Guardian - UK · May 10