Escalating tensions in the Middle East have sent shockwaves through global markets, pushing oil and gold sharply higher and raising questions on near-term outlook for regional equities, said a financial expert. Brent crude surged by 13% to $82 a barrel driven by fears of disruption in Strait of Hormuz.
A sharp escalation in the Middle East conflict has triggered major disruptions across the region’s energy industry, with QatarEnergy announcing a halt to LNG production, Saudi Aramco shutting its Ras Tanura refinery and the shipping almost coming to a halt in Strait of Hormuz.
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.
In a major escalation in the Middle East conflict, Iran's huge Pars gas field was hit on Wednesday in the first reported strikes on Iranian energy infrastructure in the Gulf during the US-Israeli war, prompting Tehran to warn its neighbours that their energy installations would be targeted "in the coming hours".
As the region prepares for the upcoming Eid Al Fitr festivities, the Middle East’s hospitality sector is demonstrating its remarkable agility and resilience with everything from a high-octane family adventure on Yas Island to serene waterfront retreats on offer.
Standard Chartered said it is maintaining normal service under work-from-home arrangements in the Middle East.
KEC International, a global infrastructure engineering, procurement and construction (EPC) major and a unit of key Indian conglomerate RG Group, has announced that it has secured the largest composite order from Saudi Arabia for setting up 380 kV transmission lines, substations and EHV Cabling in the kingdom.
More than ten days into the conflict, health systems across Middle East are under strain as injuries and displacement rise, attacks on health care continue, according to WHO. And added to that is the airspace restrictions that have disrupted the movement of medical supplies from its global logistics hub in Dubai
Air India and Air India Express will together be operating a total of 58 scheduled and non-scheduled flights to and from West Asia on March 12. These airlines will operate a non-scheduled round flight each to Riyadh in Saudi Arabia from Mumbai and Kozhikode, respectively.
Gensler has appointed Elliott Pears as Regional Sports Leader for Asia Pacific and the Middle East (APME). Recognised globally for its impact across architecture and design, the firm continues to expand its leadership platform through strategic appointments in key growth regions.
