WORLD
Dubai stocks slump the most since 2022 after UAE markets reopen
The Dubai Financial Market General Index closed 4.7% lower, the sharpest drop since May 2022. Abu Dhabi’s FTSE ADX General Index fell 1.9%.
WORLD
Saudi Aramco explores oil exports via Red Sea to avoid Hormuz
Aramco typically exports the bulk of its crude from ports within the Gulf, but conflict in the Middle East has led to a logjam of vessels.
BUSINESS
Crude oil jumps to $85 per barrel as ‘staggering’ West Asia war jolts energy
China — the world’s largest oil importer — called on all sides in the war to ensure the safe passage of ships through the Strait of Hormuz
WORLD
How Iran’s $20,000 drones are draining US’ $4 million Patriot missiles in West Asia war
The outcome of the fight may depend on which side runs out of munitions first.
WORLD
Asia scrambles for oil and gas alternatives as Iran war drags on
Some liquefied natural gas traders spent all night Monday speaking to contacts about available supply after Iranian attacks closed the world’s biggest export plant in Qatar
BUSINESS
NHAI infra trust’s IPO seeks up to $656 million
Raajmarg Infra Investment Trust has set a price range of Rs 99 to Rs 100 a unit for the IPO
BUSINESS
Asian oil refiners could cut run rates on Hormuz strait logjam
Some major processors are looking at run cuts of 20% to 30% as dozens of oil-laden tankers remain stuck in the Persian Gulf, said people with knowledge of these deliberations.
MARKETS
Korean stocks suffer worst selloff since 2024 on Iran war risks
The benchmark Kospi sank 7.2% in its worst session since August 2024, as the market reopened after a holiday.
MARKETS
Asian stocks extend declines as Middle East tensions remain high
The MSCI Asia Pacific Index dropped as much as 2%, setting the gauge on track for its worst two days in 11 months after US and Israeli strikes on Iran. South Korea led equity losses, tumbling by more than 5% on their return from a holiday and briefly triggering a sell-order halt for program trading.
BUSINESS
LNG tanker rates double to $200,000 in less than a day on Iran
The surge in vessel rates followed Qatar’s shutdown of LNG production as the conflict with Iran began to spill across the wider region.
BUSINESS
Asian banks' billions in Gulf loans at risk amid Mideast turmoil
Asian and Chinese banks, which have emerged as the Gulf’s top financiers, extended more than $15 billion in loans last year — a record high and triple the previous year — with most of the capital flowing to Saudi Arabia and the United Arab Emirates, according to Bloomberg-compiled data.
BUSINESS
Anthropic tries to win users from ChatGPT with memory feature
The memory feature, which had been available to paid subscribers, was offered to Claude users beginning Monday, Anthropic said.
BUSINESS
US has no immediate plan to tap oil reserve on Iran concerns
A decision to tap the Energy Department’s Strategic Petroleum Reserve could help stanch prices spikes, at least temporarily.
BUSINESS
Gold rises as escalating conflict in Middle East stokes demand
Bullion climbed as much as 0.8% to top $5,360 an ounce, having added more than 3% over the previous four sessions, as the conflict reverberated across the region.
BUSINESS
Stock losses worsen, oil advances on Iran conflict
South Korea’s Kospi Index — the world’s second-best-performing stock market this year — plunged as much as 6.4% as the country returned after a long weekend.
WORLD
UAE and Qatar urge allies to help Trump find off-ramp on Iran
The UAE has requested assistance from its allies with medium-range air defense, while Qatar has asked for help to counter drone attacks.
COMPANIES
Food giant Wilmar hit by $150 million loss from Pakistan company
The Singapore-listed trader revealed in its full-year financial statement last week that it had made the provision for losses in relation to an 'associated company' in Pakistan
INDIA
Billionaire Nirmal Jain bets on India’s wealth boom to hire, woo assets
IIFL Capital Services Ltd.’s wealth book of about Rs 60,000 crore ($6.6 billion) will expand 80% to 100% over the next 24 months, Jain said
WORLD
Major insurance clubs to end ship war-risk cover in Persian Gulf
The decision only affects war risks, with other terms of cover remaining unchanged.
INDIA
Mark Carney meets Modi in New Delhi, marking new chapter in ties
The two leaders shook hands as they kicked off their meeting at Hyderabad House, a colonial-era state guest house used for high-level diplomatic meetings
BUSINESS
Indian refiners eye Russian oil again as Iran crisis hits supply
The world’s third-largest oil importer is considering options that include turning to Russian cargoes currently loitering near its waters, according to people familiar with the discussions.
BUSINESS
Amazon cloud suffers outage after 'objects' hit UAE data center
AWS said the incident took place around 4:30 p.m. Dubai time on Sunday and the fire department shut off power to the facility and generators as they worked to extinguish the blaze, according to a post on its Health Dashboard.
BUSINESS
Gold climbs as Middle East war drives investor rush to safety
Bullion climbed more than 2% to around $5,390 an ounce in early trading, having gained more than 3% in the previous week as American troops amassed in the region.
BUSINESS
OPEC+ confirms 206k barrel-a-day production hike for April
The increase exceeds the monthly increments of just 137,000 barrels a day in the fourth quarter and comes amid turmoil roiling the Middle East
