UAE equities decline on Iran’s retaliation warning on Gulf infrastructure

Trump threatens to ‘obliterate’ Iran’s power plants if Tehran does not fully reopen Strait of Hormuz within 48 hours An ariel view shows the Burj Khalifa, the world’s tallest tower, dominating the Dubai skyline on April 10, 2016. PHOTO: AFP Stock markets in the United Arab Emirates declined on Monday after Iran warned it would … Read more

White House installs statue of Christopher Columbus on its grounds

A part of a campaign, which has been launched against an ideology Trump calls “anti-American” White House Columbus statue. PHOTO: X The White House has installed on its grounds a statue of Italian explorer Christopher Columbus in the latest bid by President Donald Trump’s administration to reshape depictions of US history and culture. The campaign, … Read more

Global economy under ‘major threat’ from Strait of Hormuz crisis: IEA chief

[ International Energy Agency chief Fatih Birol. PHOTO: REUTERS The global economy is under “major threat” from the energy crisis caused by the Middle East war and “no country will be immune” to its effects, International Energy Agency chief Fatih Birol said Monday. Speaking at the National Press Club in Australia’s capital, Birol compared the … Read more

China, Hong Kong stocks tumble as escalating Iran war rattles markets

‘For China, the impact hinges on both the demand and supply situation outside of China’ China and Hong Kong stocks fell sharply in early trading on Monday, as the escalating Middle East war roiled global financial markets. Both China’s blue-chip CSI300 Index and the Shanghai Composite Index lost roughly 2% at the open. Hong Kong’s … Read more