Wael’s view The UAE said today it would leave OPEC and OPEC+, effective May 1. Shock is the word most news reports have reached for. It shouldn’t be. This moment has been building for almost a decade. Abu Dhabi disagrees with OPEC’s quota system which didn’t keep pace with the ...
Month: April 2026
Treasury directs banks to steer clear of China’s ‘teapot’ refineriesTreasury directs banks to steer clear of China’s ‘teapot’ refineries
The Scoop The Treasury Department on Tuesday will direct financial institutions to keep additional distance from transactions on behalf of Chinese “teapot” oil refineries, independent facilities that play a key role in importing and refining Iranian fuel. Treasury’s Office of Foreign Assets Control has already imposed sanctions on five of ...
We’re in the ‘call me, maybe’ era of M&AWe’re in the ‘call me, maybe’ era of M&A
Rohan’s view Deal talks used to be closely held secrets, discussed in backrooms of steakhouses or during late Sunday night board calls. No longer. We’re now in the “call me, maybe” era of dealmaking. See United Airlines CEO Scott Kirby publicly making the case Monday for buying American Airlines. Or ...
UAE’s Saudi schism deepens with move to quit OPECUAE’s Saudi schism deepens with move to quit OPEC
Matthew’s view The UAE’s announcement that it will quit the Organization of Petroleum Exporting Countries — a group that it has been a member of since 1967 — is a blow to the cartel, which has struggled in recent years to maintain unity. Certainly, in the short term, its announcement ...
FCC to challenge ABC broadcast licensesFCC to challenge ABC broadcast licenses
The Federal Communications Commission is moving toward a review of Disney’s broadcast licenses, according to people familiar with the matter, a maneuver that would up the pressure on the ABC owner as it faces fierce scrutiny from the administration — again — over a late night monologue. The FCC may ...
Middle East crisis live: Trump claims Iran wants US to open strait of Hormuz as soon as possibleMiddle East crisis live: Trump claims Iran wants US to open strait of Hormuz as soon as possible
US president makes unverified claims in Truth Social post, saying Tehran had told Washington it was ‘in a state of collapse’ US is being ‘humiliated’ by Iran’s leadership, says Friedrich Merz Saudi Arabia is to host a meeting of the Gulf Cooperation Council in Jeddah later today, in what will ...
Hezbollah drone strikes target Israeli soldiers in southern LebanonHezbollah drone strikes target Israeli soldiers in southern Lebanon
Ceasefire frays further as Israel also carries out airstrikes and issues new displacement orders for south Lebanon Hezbollah launched several drones at Israeli soldiers in south Lebanon on Tuesday, while Israel issued new displacement orders for south Lebanon and carried out airstrikes, as the fraying ceasefire failed to stop fighting ...
Fears of resurgence in Somali piracy after three vessels hijacked in a weekFears of resurgence in Somali piracy after three vessels hijacked in a week
Pirates appear to be taking advantage of international naval strength being diverted to Middle East Three vessels have been hijacked off the coast of Somalia in the past week, raising fears of a resurgence in piracy around the Horn of Africa, and adding to the woes of the global shipping ...
UAE quits Opec in win for Trump as oil cartel weakenedUAE quits Opec in win for Trump as oil cartel weakened
US president has accused organisation of ‘ripping off the rest of the world’ by inflating oil prices The United Arab Emirates has quit the Opec oil cartel after 60 years of membership, in a heavy blow to the group and its de facto leader, Saudi Arabia, as global energy markets ...
Lebanese citizens with Australian partners being denied visitor visas amid concerns over unofficial ‘blacklists’Lebanese citizens with Australian partners being denied visitor visas amid concerns over unofficial ‘blacklists’
Rejection letters for those applying to enter Australia while they wait for their partner visas read like ‘cut-and-paste’ refusals, migration agents say Get our breaking news email, free app or daily news podcast Every night Maram cries for her father. “‘Dad, Dad, Dad’, all the time she is screaming,” the ...