McDonald’s, Starbucks Experience Sales Decline as Israel-Hamas Conflict Drags On
McDonald's and Starbucks blamed the Israel-Hamas conflict for a sales drop in 2023.
Middle East
India Secures 10-Year Chabahar Port Deal With Iran, Bypassing Rival Pakistan's Gwadar
India secured a 10-year Chabahar Port deal with Iran, bypassing Pakistan's Gwadar. The investment totals $370 million. The move strengthens regional ties and enhances trade routes amid escalating tensions.
Chinese Companies Dominate Licensing Bids to Explore Iraq Oil and Gas Fields as US Snubs Energy Bidding Round
Chinese companies won five more bids to explore and develop oil and gas fields in Iraq...
Despite Biden Administration Pause, Billions of Dollars Worth of US Weaponry Still Due to Go to Israel
Despite the Biden administration's pause on one bomb shipment and review of others due to concerns over potential civilian casualties, Israel is still set to receive US weaponry worth billions of doll..
Maersk Shipping Disruption Amid Houthi Attacks in Red Sea Could Force More Delays
Red Sea container shipping is experiencing increased disruption, according to Maersk, which predicts that capacity between Asia and Europe would be reduced by up to 20% in the second quarter...
Biden Administration Halts US Ammunition Shipment to Israel; Tel Aviv ‘Unaware’ of Washington’s Decision
Israel is "unaware" of any US decision to halt a supply of ammunition ...
EU Vows $1 Billion Aid for Lebanon Amid Spiralling Economic Crisis
The European Union has recently unveiled a substantial aid package of ...
Latest News
Joe Biden Issues Order Imposing Sanctions on Israeli Settlers Who Attack Palestinians in West Bank
President Joe Biden has issued an executive order targeting Israeli settlers who attack Palestinians in the West Bank.
Oil Climbs 1% After Houthi Rebels Attack on British Oil Tanker; Trafigura Assesses Red Sea Risks
Trafigura is evaluating the security risks of future Red Sea voyages following an attack on the company's Marlin Luanda oil tanker by Yemen-based Houthi rebels.
British Oil Tanker Hit by Houthi Missile After Group Fires at US Warship—China Urges Rebels to Stop Red Sea Attacks
A British oil tanker was reported to be engulfed in flames in the Gulf of Aden after Houthi rebels hit it with a missile on Friday after transiting the Red Sea.
Saudi Arabia Makes Rare Move to Open its First Liquor Store in Over 70 Years Amid Liberalization Drive
Saudi Arabia has opened its first liquor store in over 70 years, marking a significant departure from its conservative traditions.
US Designates Houthis as Terrorists, Launches Fresh Strikes in Yemen After Rebels Hit Another US-Operated Ship
The US has put Houthi rebels back on a list of terrorist organizations following the Yemen-based group's attack on another US-operated vessel in the Red Sea region.
US Launches Additional Strikes Against Houthis in Yemen as Rebels Hit Greek Ship With Missile in Red Sea
The US military launched new strikes in Yemen on Tuesday, targeting anti-ship ballistic missiles in a part of the country controlled by Houthi rebels.
Oil Prices Surge After US, Britain Strike Back at Houthi Rebels in Yemen
Oil prices jumped 2% on Friday as the United States (US) and Britain launched air and sea strikes in Yemen against the Houthi militants.
Shipping Giants Maersk, Hapag-Lloyd Begin Rerouting Ships to Avoid Red Sea as Houthi Attacks Increase
Following a series of attacks on ships in the Red Sea by Iranian-backed Houthi militants, shipping giants Maersk and Hapag-Lloyd have rerouted their vessels, opting for the longer Cape of Good Hope ro
Oil Giant BP Pauses All Tanker Transits Through Red Sea Due to Houthi Attack Fears
Oil giant British Petroleum (BP) has temporarily halted all its tanker transits via the Red Sea after attacks on ships by Iranian-backed Houthi militants based in Yemen escalated.
