The US military's request for $200 billion in additional funding for the Iran war met with stiff opposition in the US Congress on Thursday, as Democrats and even some Republicans questioned the need for the money after large defence appropriations last year.
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Iranian attacks have knocked out 17% of Qatar's liquefied natural gas (LNG) export capacity, causing an estimated $20 billion in lost annual revenue and threatening supplies to Europe and Asia, QatarEnergy's CEO and state minister for energy affairs told Reuters.
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US President Donald Trump said Israel had 'violently lashed out' by striking Iran’s South Pars gas field, in an escalation of the conflict, prompting a retaliatory attack by Tehran on Qatar’s Ras Laffan Industrial City. He ruled out further such attacks by Israel unless Iran retaliated.
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The US Dollar Index (DXY) is moving at a pivotal moment, reflecting the interplay of three key factors: the Federal Reserve’s monetary tightening, rising US Treasury yields, and escalating geopolitical risks, particularly in the Middle East, said an industry expert.
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Diversified sourcing strategies, alternative shipping routes and stronger coordination between logistics providers and government authorities have helped maintain continuity in the movement of essential goods, says Mark Mortimer-Davies, CEO of Choithrams, in an exclusive interview with TradeArabia's Sree Bhat.
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Global utility major Acwa Power has acquired the entire 32% stake of Saudi PIF company Badeel in Shuaibah Water and Electricity Company (developer of Shuaibah IWPP). With this move, Acwa Power has now become the majority stake holder in the Shuaibah company with 62% share.
Dubai Airports will press ahead with expansion plans despite aviation disruption caused by the regional conflict with Iran, with Chief Executive Paul Griffiths saying the emirate’s long-term strategy to strengthen its position in global aviation remains firmly on track.
Global airlines are raising ticket prices, cutting some services and reviewing schedules as soaring jet fuel costs linked to the Middle East conflict squeeze margins, while widespread flight disruptions continue to hit passenger traffic and tourism demand worldwide.
Oil prices edged lower on Wednesday after surging in the previous session, as traders weighed fresh US inventory data and signs of possible export relief from northern Iraq against continuing concerns over Middle East supply disruptions.
International Air Transport Association (IATA) projects global air passenger demand will more than double by 2050, reaching about 20.8 trillion RPKs under a mid-range 3.1% CAGR, with scenarios ranging from 19.5 to 21.9 trillion RPKs depending on growth rates.
Diriyah Company, the developer of Saudi Arabia's premier historical, cultural, and lifestyle destination, has achieved a major construction milestone with the completion of 7,193 cu m of concrete pouring within a record 15.5 hours for the Gyratory Tunnel Extension in Phase II of the giga Diriyah project.
Global losses related to financial fraud in 2025 alone have been estimated at $442 billion, according to an INTERPOL report, which highlighted that since 2024 such activities have increased 54%.
Israel said on Tuesday it had killed Iran’s top security official Ali Larijani in an air strike, while Tehran signalled it was rejecting ceasefire overtures conveyed through intermediaries.
More than 50 investible opportunities could turn capital flows into lucrative nature-positive business practices and contribute up to $10.1 trillion in annual business revenues and cost savings by 2030, according to a new World Economic Forum report launched today.
Saudi Arabia’s Retal Urban Development Company has entered into an agreement with leading Omani authorities for the development of three neighbourhood community projects within Sultan Haitham City, Oman’s largest urban development project, at a total investment of $800 million.
Mina Al Ahmadi Refinery, operated by Kuwait National Petroleum Company (KNPC), came under drone attacks in the early hours of Friday. These attacks resulted in a fire in several units within the refinery but caused no injuries, as per preliminary assessments, said a statement from Kuwait Petroleum Corporation (KPC).
Royal Jordanian Airlines, the Arab country's flag carrier, said it continues to operate its flights to various destinations whose airspace remains open and safe, in light of the security developments in the region and the challenges posed by the regional situation on the aviation sector.
Mina Al Ahmadi Refinery, operated by Kuwait National Petroleum Company (KNPC), came under drone attacks in the early hours of Friday. These attacks resulted in a fire in several units within the refinery but caused no injuries, as per preliminary assessments, said a statement from Kuwait Petroleum Corporation (KPC).
The US Dollar Index (DXY) is moving at a pivotal moment, reflecting the interplay of three key factors: the Federal Reserve’s monetary tightening, rising US Treasury yields, and escalating geopolitical risks, particularly in the Middle East, said an industry expert.
Jubail Island Investment Company has awarded a contract to Arabian Construction Company (ACC) to deliver Packages 1 to 5 within its mega development in Abu Dhabi. The scope of work includes construction of premium three- to six-bedroom villas along with other key amenities.
The Emirates Drug Establishment (EDE) has set up a task force comprising 16 strategic partners involved in pharmaceutical and logistics supply chains across the UAE, including drug manufacturers, medical warehouses, storage facilities and logistics providers.
India's Central Board of Secondary Education (CBSE) on Sunday cancelled remaining Class 12 board examinations (scheduled between March 16 and April 10), including papers earlier postponed in several West Asian countries including Bahrain and other GCC countries and Iran amid the ongoing regional conflict.
Gold prices are currently navigating heightened uncertainty trading at around $4,605 per ounce, caught between opposing forces that make it difficult to establish a clear short-term trend. On the one hand, the macroeconomic backdrop in the US has reinforced expectations of higher interest rates for longer.
Bahrain’s Parliament has unanimously approved a package of fast-track measures aimed at shielding businesses and citizens from the fallout of regional tensions and recent attacks, before referring them to the Cabinet for review, reported the Gulf Daily News, our sister publication.
The World Intellectual Property Organisation (WIPO) has announced the launch of a new initiative - AI Infrastructure Interchange - for expert dialogue on IP and AI issues that will focus on technical and operational issues and complement ongoing discussions at its other forums.
Royal Commission for Makkah City and Holy Sites plans to nearly double Makkah Taxi fleet capacity this year to around 1,600 vehicles, supported by the issuance of three new operating licences to taxi companies under its General Transport Center.
Saudi religious leaders have announced that the Eid Al Fitr will be celebrated on Friday in the kingdom and across the Gulf region after the Shawwal crescent moon was not sighted on Wednesday (March 18) evening. Muslims in the region will therefore fast for 30 days this year.
The Bahrain Defence Force has announced that its air defence systems have successfully intercepted and destroyed 129 missiles and 233 unmanned aerial vehicles launched as part of an ongoing Iranian terrorist aggression against the kingdom, which commenced on Saturday (February 28).
