Saudi Arabia
Iran's IRGC says two supertankers struck and disabled in mined Hormuz corridor
Two supertankers were hit and disabled after transiting a mined corridor in the Strait of Hormuz, according to Iran's Revolutionary Guards, hours after Washington declared a blockade on Iranian shipping and a 20% cargo levy.
Trump reinstates Hormuz blockade on Iranian shipping, imposes 20% transit levy on all cargo
Washington will bar Iranian vessels and their customers from the Strait of Hormuz and charge a 20% levy on all other cargo transiting the chokepoint, which carries a fifth of global oil, in a sharp escalation of the US-Iran conflict.
Iran keeps door open to US talks as Hormuz crisis deepens
Iran says diplomacy remains active and contacts with Pakistan, Qatar and Oman are continuing, even as it accuses the US of wrecking the ceasefire memorandum and blocking safe passage through Hormuz.
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Iran says it has established safe maritime corridor through Hormuz
Iran says it has established a temporary safe maritime corridor through the Strait of Hormuz and notified the IMO, accusing the US of pushing vessels towards a dangerous southern route.
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Iran's Persian Gulf Strait Authority declares Hormuz transit 'impossible'
Iran's newly created Persian Gulf Strait Authority has declared transit through the Strait of Hormuz impossible, citing US military activity and formalising the closure of the world's most important oil chokepoint.
ING: Oil bounces on Persian Gulf re-escalation
The re-escalation of fighting in the Persian Gulf in the last days has reignited supply concerns, pushing oil prices higher amid questions about the direction of US-Iran peace talks, ING said in a note.
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Tanker struck by drone near Strait of Hormuz, UK maritime authorities annouce
A tanker transiting near the Strait of Hormuz has been struck by an unidentified drone, sustaining minor hull damage, with no casualties reported, the UK Maritime Trade Operations agency says.
Islamic Development Bank eyes $1.4bn funding for Kazakhstan road corridor
The Islamic Development Bank has signed an MOU to support Kazakhstan's Kyzylorda-Saksaulsk road corridor, opening the way for up to $1.4bn in funding. Find out how the project fits Kazakhstan's push to become a transit and logistics hub.
Global air passenger demand falls 2.2% in May on Middle East war
Global air passenger demand fell 2.2% in May as Middle East carriers posted a 28.4% drop on the impact of regional war. Find out how the decline eased from April and where European and Latin American airlines are posting record growth.
Iraq presses Iran to reopen Strait of Hormuz as crude exports take hit
Any interference in the Strait of Hormuz will only delay its reopening, Iran's foreign minister Abbas Araghchi says in Baghdad, as Iraq offers to host a regional security summit including Iran and the Gulf states.
Coal’s unexpected comeback on Middle East conflict energy security fears
The disruption to global energy markets caused by the conflict in the Middle East has triggered an unexpected resurgence in coal demand, as energy security fears outweigh Climate Crisis commitments.
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Iran rejects US-GCC statement as Gulf hardens stance over missiles, Hormuz
Iran has condemned a joint US-GCC statement as interventionist, after Gulf ministers and Marco Rubio hardened their position on Iran's missiles, drones and the Strait of Hormuz at a meeting in Manama.
Bahrain hosts GCC-US meeting with Rubio on Iran deal, Hormuz
Bahrain has hosted a GCC meeting with US Secretary of State Marco Rubio in Manama, where Washington sought to reassure Gulf allies over the Iran deal, with Gulf states pressing for clarity on the Strait of Hormuz, nuclear and missile issues.
Saudi Arabia opens portal for foreign property ownership applications
Saudi Arabia's REGA has opened applications for foreign property ownership through its Saudi Properties portal, the official channel under a law that took effect in January, while restricting ownership in Mecca and Medina.
Turkey’s foreign minister meets Trump’s co-in-law 'fixer' in Cairo
Lebanese-born billionaire Massad Boulos is a man with a unique portfolio. He serves as US senior advisor for Arab and African affairs. His son is married to Tiffany Trump.
Turkey says Saudi rail link under technical assessment, financing being weighed
A planned Turkey-Saudi railway linking the Gulf to Europe via Jordan and Syria is under technical assessment, with financing still to be weighed by respective governments.
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EU agrees free hand luggage, keeps delay compensation after decade of talks
Airline passengers in the EU will keep free hand luggage and delay compensation under a deal reached after more than a decade of talks, with the rules due to take effect in 2027.
TIIF 2026: Uzbekistan's $4 trillion Islamic finance opportunity
Uzbekistan is an unusual case in the Islamic world. Its population of nearly 40mn is overwhelmingly Muslim — around 90% — yet the country has operated since independence as a secular state, with a conventional western-style banking system.
New initiative launched to redirect Gulf energy flows away from Strait toward Mediterranean
Syria envisioned as key cog in new energy distribution network.
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COMMENT: Iran and the GCC, the memory remains
Relations across the Gulf have been ruined following more than 100 days of war between Iran, Israel and the US with the Gulf neighbours to the south and east of the Islamic Republic left exposed following a new memorandum with the Trump admin.