Israel

Iran's largest steelmaker Mobarakeh halts all production after second strike

bnm Gulf bureau April 2, 2026

Iran's largest steelmaker Mobarakeh Steel halted all production and sent workers home after a second US-Israeli strike caused "fundamental destruction" to its Isfahan complex, crippling a key non-oil export sector.

Iran's NZ embassy fires back at Trump 'stone age' taunt with AI-generated mockery

bnm Gulf bureau April 2, 2026

Iran's NZ embassy mocked Trump's "stone age" threat with AI images of the US president as a caveman beside an ancient Persian king, the latest in a social media information war running alongside the military conflict.

Iran-linked hackers claim breach of Israeli air defence contractor PSK Wind

bnm Gulf bureau April 2, 2026

Iran-linked hackers Handala claimed to have breached Israeli air defence contractor PSK Wind Technologies and passed classified command and control data to resistance missile units, though the claims remain unverified.

Trump vows to bomb Iran 'back to the stone ages' in rambling primetime address

bnm Gulf bureau April 2, 2026

Trump's first primetime address on the Iran war drew fire from all sides after he vowed to bomb Iran "back to the stone ages," sent oil surging past $105 and admitted he no longer cares about Iran's buried uranium stockpile.

Cost of living shock deepens as energy crisis hits G7 spending – Oxford Economics

Ben Aris in Berlin April 2, 2026

A surge in energy prices following the escalation of the Iran conflict is intensifying the cost-of-living crisis across the G7, dragging consumer spending growth to its weakest level since 2022.

A long Iran war will lead to severe shortages, says Oxford Economics

Ben Aris in Berlin April 2, 2026

A sustained escalation of the US/Israel-Iran conflict could push global oil markets beyond a price shock into severe physical shortages, with rationing, supply chain disruption and recessionary pressures becoming increasingly likely.

Israeli strikes kill family of four in southern Lebanon as ground invasion widens

bnm Gulf bureau April 1, 2026

Israeli strikes killed a family of four in Nabatieh and five in Beirut's Jnah district on April 1 as Lebanon's death toll since March 2 rose to 1,268, with Israeli forces expanding ground operations in the south.

Is Trump going to abandon the Iran war?

Ben Aris in Berlin April 1, 2026

Is US President Donald Trump the war in Iran? Having failed to meet any of his as yet unstated objectives trump is clearly frustrated and contemplating giving up on an unwinnable war.

UK's Starmer convenes military planners to secure Strait of Hormuz after fighting ends

bnm Gulf bureau April 1, 2026

UK PM Starmer announced military planners would draw up options to secure the Strait of Hormuz after the war, saying "this is not our war" but its economic impact on Britain demands action on Gulf maritime security.

Iranian cruise missile strikes oil tanker in Qatari waters

bnm Gulf bureau April 1, 2026

An Iranian cruise missile struck an oil tanker leased to Qatar Energy in Qatari waters on April 1 after two others were intercepted, escalating Tehran's targeting of Gulf energy assets as the war enters its second month.

Iran, Yemen's Houthis and Hezbollah launch joint missile strike on Israel

bnm Gulf bureau April 1, 2026

Yemen's Houthis said they launched a joint ballistic missile strike with Iran and Hezbollah on southern Israel, the third coordinated operation as the "axis of resistance" formalises wartime military cooperation.

Spain condemns Israeli death penalty law as discriminatory against Palestinians

bnm Gulf bureau March 31, 2026

Spain condemned Israel's new death penalty law as "draconian" and discriminatory against Palestinians, deepening the rift between Madrid and Tel Aviv as Spain refuses to support the US-Israeli war on Iran.

China and Pakistan issue five-point peace plan for Gulf and Middle East

bnm Gulf bureau March 31, 2026

China and Pakistan issued a five-point peace plan on March 31 calling for an immediate ceasefire and reopening of Hormuz, though the plan's omission of the US and Israel by name and questions over Beijing's credibility as a guarantor may limit its im

IRGC threatens to strike US tech companies in retaliation for assassinations

bnm Gulf bureau March 31, 2026

Iran's IRGC named 18 US tech and AI firms including Google, Microsoft, Palantir and G42 as targets for retaliation

Italy secretly blocked US from using Sicily base for Iran strikes

bnm Gulf bureau March 31, 2026

Italy secretly blocked the US from using its Sigonella air base in Sicily for Iran strikes after jets were already airborne, the second NATO ally after Spain to refuse Washington access for the war.

COMMENT: An Iran embargo won't send oil to $200

bne IntelliNews March 31, 2026

A chorus of analysts and traders have spent recent weeks warning that oil prices will spike. But market is foward-looking and has already priced in the worst case. $200 oil won't happen.

Iranian missile debris damages buildings near Ukrainian embassy in Tel Aviv

bnm Gulf bureau March 31, 2026

Iranian missile debris landed near the Ukrainian embassy in Tel Aviv on March 31, injuring six and damaging vehicles and buildings as Iran maintains daily strikes on Israeli territory a month into the war.

Tehran hit by waves of air strikes overnight as Israel targets Iranian capital

bnm Gulf bureau March 31, 2026

Tehran hit by waves of Israeli air strikes overnight with power knocked out in parts of the capital.

China emerges as Iran war safe haven

Ben Aris in Berlin March 31, 2026

China is emerging as a safe haven for investors seeking refuge from the Iran war storm.

IMF: How the war in the Middle East is affecting energy, trade, and finance

IMF Ben Aris in Berlin March 31, 2026

Energy prices, supply chains, and financial markets are the main transmission channels, but the regional effects will vary significantly. The world faces yet another shock.

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