9 stories found
An Iranian missile and drone attack targeted the Prince Sultan Air Base in Saudi Arabia, injuring several US service members, two seriously, and damaging US aircraft. Marco Rubio claims the war is expected to end in weeks, adding to new reports confirming the extent of damage and casualties.
Energy anxiety in Europe, 50% chance of recession in the US: The economic victims of the war in Iran
Although the six Gulf countries have diversified their economies, hydrocarbons still account for about 30% of their gross domestic product (GDP).
The Iran war continues to escalate with ongoing Israeli air attacks, including fresh strikes on Tehran and Beirut, and Iran's strategic willingness to push the conflict further, raising concerns about potential US losses and the impact on Gulf economies.
The economies of Gulf nations, from energy exports to tourism, are at significant risk of recession due to a prolonged conflict in the Middle East.
The war between the US, Israel, and Iran has intensified with heavy strikes on Iranian targets and regional expansion, leading to nearly 800,000 people displaced and a serious humanitarian emergency.
The ongoing conflict in Iran has highlighted the potential vulnerability of Gulf states regarding food and water security, with countries like Bahrain and Qatar heavily reliant on desalinated water and at risk from strikes on desalination plants.
Gulf Economies at Risk of Worst Slump Since 1990s on Iran War Bloomberg.com
Iran’s retaliatory strikes across the Gulf have triggered the most widespread business disruption in the region since the COVID-19 pandemic, forcing airport closures, halting port operations and…