Jordan hosts emergency meeting with Arab and Islamic nations over fears of Israeli takeover of Al-Aqsa mosque, violating a status quo treaty, potentially triggering a religious conflict.
BP reports quarterly profits more than doubling to $5.73bn, driven by rising oil and gas prices from the Middle East crisis, as new CEO Meg O'Neill plans a major company overhaul.
Iran is negotiating with Oman for a temporary commercial shipping route through the Strait of Hormuz, while its foreign ministry spokesperson denies any talks with the US, despite President Trump's claims and threats of military action. Tensions remain high over the strait's management and a disputed ceasefire agreement.
Iran is discussing a temporary shipping route through the Strait of Hormuz with Oman to resume commercial traffic, according to its foreign ministry spokesperson Esmail Baghaei. Tehran denied US claims of restarting broader talks, emphasizing bilateral negotiations with Oman on the route and future strait management.
India's Union ministry of housing and urban affairs advised state RERAs to grant a four-month extension for real estate project completion, citing supply chain disruptions from the Middle East conflict. Industry bodies CREDAI and NAREDCO welcomed the move, stating it offers relief to developers and safeguards homebuyers' interests.
The Bank of England's MPC maintained the UK interest rate at 3.75%, warning that an escalation of the Iran war could drive inflation above 4% by 2027, intensifying cost of living pressures. Governor Andrew Bailey dismissed immediate rate hike expectations, despite three MPC members dissenting for an immediate rise to 4%.
Australian households are warned of a potential Reserve Bank interest rate hike and petrol prices exceeding $2 a litre due to the escalating Middle East crisis pushing global crude oil above $US100 a barrel, impacting inflation and household budgets.
Houthi threats to Saudi oil shipments via Bab al-Mandab have pushed Brent crude above $100 a barrel and raised fears of a further spike. The disruption is also tightening global diesel, petrol and gas markets.
Dubai's Department of Economy and Tourism launched the 'Dubai Invite' scheme, offering residents benefits worth over 3,000 AED to attract friends and family, aiming to revive tourism numbers that plummeted after the city was drawn into the US-Israel war on Iran, leading to hotel vacancies and revenue declines.
Market forecasts indicate a doubled likelihood of a Reserve Bank interest rate hike as escalating Middle East tensions drive fuel prices higher. Brent crude surged 23% to near $US90/barrel, impacting Australian motorists and raising stagflation concerns for the economy.
Queensland's Liberal National government buried a report by domestic violence victim-survivors that criticized police handling of cases and advocated for civilian review mechanisms, despite promises to prioritize victims in justice policies.
The escalating Middle East crisis has driven Brent crude prices up 23% to near $US90/barrel, doubling market forecasts for an Australian Reserve Bank interest rate hike. Australian motorists face rising fuel costs as experts warn of a critical juncture for global energy markets.
Yemen's Houthi militia, aligned with Iran, has threatened to attack tankers using Saudi Arabian ports, potentially disrupting Saudi oil exports and deepening the regional crisis, with the US weighing responses.
Ryanair reported a 34% Q1 profit drop to 538 million euros, attributing it to consumer booking delays due to the Middle East crisis and rising unhedged fuel costs. The budget carrier warns of a "difficult winter" for struggling European airlines, with potential failures.
Iran's president declared "full-scale war" as US expanded aerial campaigns and Tehran struck Gulf allies. Attacks hit Iran's Tabriz and Bushehr, while Iran targeted Bahrain and Kuwait. Houthis blockaded Saudi ports, impacting oil prices, despite ongoing de-escalation talks.
Ryanair reports a 34% drop in Q1 profit to €538M due to delayed bookings amid the Middle East crisis, warning of a 'difficult winter' for European airlines with rising fuel costs and consumer hesitancy.
Iran has declared the Strait of Hormuz closed following six days of hostilities with the US, reversing a recent agreement to restore maritime traffic. The IRGC announced the closure after aerial exchanges, though the US claims traffic is still flowing. This escalation follows tit-for-tat attacks and threatens global trade.
The US launched new airstrikes against Iran, targeting military bases and infrastructure, hours after President Trump threatened escalation over attacks on ships in the Strait of Hormuz. Iran responded by targeting US-allied Kuwait and Qatar and accused the US of striking near its nuclear plant. The tit-for-tat strikes are the most intense since a ceasefire memorandum was signed.
US stock markets declined Wednesday due to ongoing strikes on Iran and Federal Reserve signals of potential interest rate hikes. Brent crude oil surged over 5% to $80 a barrel following Trump's declaration that the Iran-US ceasefire is over.
The US military conducted strikes on Iran for a second consecutive day, targeting locations including Bandar Abbas and Bushehr province. President Trump stated the action was retaliation for Iran's earlier bombing of ships. The escalation follows an interim agreement to end a war, which Trump declared "over".
A photo shared by an Israeli soldier showing a Palestinian man from Gaza stripped to his underwear and blindfolded has been called a potential war crime by rights groups. The image corroborates reports of Israeli torture and abusive treatment of detainees, with organizations stating that such actions and the public sharing of degrading images constitute war crimes.
At the NATO summit in Ankara, Donald Trump declared the ceasefire with Iran over, calling its leaders "scum." He also expressed anger at NATO allies for defense spending and threatened trade with Spain over its stance.
A prominent Gaza doctor, Hussam Abu Safiya, is reportedly unrecognisable and critically ill after 18 months in Israeli detention without charge, his lawyer states, fearing for his life. This comes amid broader Israeli attacks on Palestinian healthcare, including a baby's death due to checkpoint delays.
US Secretary of State Marco Rubio assured Gulf allies that Washington will not permit Iran to charge tolls in the Strait of Hormuz, despite a recent ceasefire deal. Concerns persist over Iran reinvesting frozen assets into its military and its nuclear program.
