Transport Private jets and yachts take passengers fleeing Lebanon People trying to flee the escalating conflict in Lebanon are turning to expensive private bus, yacht and jet operators as an increased number of airlines cancel flights. “If Beirut’s airport is closed due to the ongoing conflict, don’t worry,” reads one of the many such adverts that have inundated Lebanese social media. “Our luxury yachts […] October 14, 2024
Opinion Agriculture Food is the hidden frontier in the Middle East conflict The impact of conflict on food production and trade will be felt around the world October 11, 2024
Opinion Economy Lebanon conflict will only exacerbate existing economic crisis The country is battling core infrastructure damage, collapsed business activity and decimated tourism October 9, 2024
Analysis Construction Middle East crisis further hinders late project delivery The escalating Middle East conflict involving Israel, Lebanon and Iran is further hindering already stretched construction timelines in the Gulf. Safe passage through the Strait of Hormuz is threatened, with concerns that Iran will close the waterway. This route is critical to GCC oil and gas exports. Building projects in the Middle East suffered some […] October 9, 2024
Analysis Oil & Gas Fears for Strait of Hormuz oil gateway in Iran-Israel face-off The prospect of a sustained Iran-Israel conflict is raising concerns that Iran could respond by closing the Strait of Hormuz, the waterway critical to GCC oil and gas exports. Last month about 15 million barrels per day (bpd) of crude passed through the Strait of Hormuz, 36 percent of global seaborne oil exports, according to […] October 8, 2024
Oil & Gas Oil prices up after strongest weekly rise in over a year Oil prices fell and then rose again on Monday after posting their steepest weekly rise in over a year last week. Brent crude futures fell to $77.74 per barrel before rising again to $79.14 per barrel. US West Texas Intermediate dipped to $74.18 per barrel and then rose to $75.53 per barrel. Brent rose by […] October 7, 2024
Analysis Oil & Gas Iran’s energy installations may be targeted in Israeli strikes Brent neared $79 a barrel on Friday, surging over 10 percent in a week, as markets and the wider world waited for a response to Iran’s attacking Israel with nearly 200 ballistic missiles on Tuesday. Israeli prime minister Benjamin Netanyahu may order an attack on one of Iran’s major oil centres or less significant installations […] October 4, 2024
Aviation Conflict risk leads Gulf airlines to cancel regional routes Gulf airlines are among airlines that have cancelled and rerouted flights across the Middle East as the conflict between Iran and Israel escalates. They are avoiding Iranian airspace and many have cancelled routes entirely following a major missile attack by Iran against Israel on Tuesday. Immediately after the attacks about 80 flights operated by carriers […] October 4, 2024
Oil & Gas Oil edges up on Middle East risks Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market. Brent crude futures were up 9 cents, or 0.12 percent, to $77.71 a barrel as of 00:10 GMT. […] October 4, 2024
Opinion Logistics Conflict will severely disrupt Middle East logistics Air cargo is particularly hard hit by escalating conflict in the Middle East October 3, 2024
Oil & Gas Oil rises 1% on prospects of wider Middle East conflict Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook. Brent crude futures were up 94 cents, or 1.27 percent, to $74.84 a barrel at 06:15 GMT. US West Texas Intermediate crude futures were […] October 3, 2024
Analysis Tourism Gulf hospitality industry shrugs off war concerns Middle East hospitality veterans downplayed concerns over wider regional tensions this week, saying the industry has survived crises before and is poised to do so again. Government officials and corporate executives spoke during the Future Hospitality Summit, which is taking place in Dubai this week, just as military action intensified in Israel, Lebanon and Iran, […] October 3, 2024
Opinion Aviation Regional airlines will remain fluid in the Israel-Iran conflict Current events are unlikely to cause significant disruption in countries with large domestic markets October 2, 2024
Opinion Oil & Gas War, oil, safe haven assets and risk premium in the GCC Geopolitical risk premium could well rise to $130 a barrel if Iran responds further to an Israeli attack October 2, 2024
Oil & Gas Oil prices jump 3% as Middle East conflict intensifies Oil prices rose by more than 3 percent on Wednesday as Israel vowed retribution for Iran’s ballistic missile attack on its regional adversary. The conflict has intensified rapidly, with Israel also ordering more soldiers into Lebanon to battle the Iran-backed group Hezbollah. There is little sign of de-escalation despite international pleas. That has sent oil […] October 2, 2024
Aviation Airlines suspend flights to Middle East Airlines in the Middle East have cancelled some flights and rerouted others after Iran fired more than 180 ballistic missiles at Israel. Shares in some European airlines and travel companies fell on Wednesday by up to 2.7 percent after Israel’s neighbours closed airspace and airline crews skirted the conflict zone. Many airlines have suspended operations […] October 2, 2024
Oil & Gas Without Opec+ ‘we would be in chaos’, says UAE minister Opec+ is doing a “noble” job of balancing supply and demand in the oil market, the UAE energy minister has said. “Without this group, we would be in chaos,” Suhail Al Mazrouei told a conference on Wednesday. “Opec+ has sacrificed more than others,” the minister said, adding that although the energy group’s members do not […] October 2, 2024
Video length: 04:53 Analysis Retail Rise in retail M&A predicted as Gulf stores struggle An increase in mergers and acquisitions in the GCC’s retail sector has been predicted for this year, as operators try to cope with an increasingly uncertain economic environment. Six retail M&A deals have taken place since the beginning of 2023, all involving intra-regional players. Thirteen retail M&A deals were concluded in 2022, of which five […] September 30, 2024
Economy As GCC calls for ceasefire, UAE gives Lebanon $100m The UAE directed an urgent $100 million aid package to Lebanon on Monday, as fighting between Israel and Hezbollah continued. President Sheikh Mohamed bin Zayed al Nahyan said: “This initiative is part of the UAE’s continuous efforts to support Lebanon through its current challenges, underscoring the nation’s unwavering commitment to assisting the Lebanese people.” The […] September 30, 2024
Economy Suez Canal revenues fall by $6bn as unrest continues Suez Canal revenues have fallen by $6 billion this year amid regional geopolitical issues, president Abdel Fattah El Sisi has said. The income from the waterway, connecting the Mediterranean and the Red Sea, declined by between 50 percent and 60 percent in the first eight months of 2024, local media reported, citing the president’s speech at […] September 30, 2024
Opinion Finance Republicans in the UAE rally to the Trump cause A panel at the Capital Club, Dubai, gave their views on the changing landscape ahead of polling day September 20, 2024
Food & Drink Kuwait’s Alshaya delays Starbucks franchise stake sale Kuwait’s Alshaya Group is “not in a hurry” to sell a stake in its Starbucks regional franchise due to the ongoing geopolitical unrest and boycotts, which is affecting its valuation, according to a news report. Discussions are expected to resume next year “if the situation improves”, Reuters reported, citing informed sources. The company, one of […] September 20, 2024
