The Iran conflict will cost the Middle East nearly $200 billion in lost economic output, the UN projected Tuesday. A prolonged conflict could lead to an exodus of foreign workers and a drop in investment, which could drive up unemployment and poverty. Global firms, for now, say they remain committed ...
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Eurovision expands to AsiaEurovision expands to Asia
The Eurovision Song Contest on Tuesday announced its first Asia edition, with Bangkok set to host the campy international competition in the fall. At least 10 countries, including South Korea, Vietnam, and Bangladesh, are set to take part in the contest, with each nation submitting a pop performance to compete ...
In private, Gulf leaders push for Iran escalationIn private, Gulf leaders push for Iran escalation
The US has been accused of muddled thinking in its prosecution of the Iran war, but Gulf leaders may be sending confused messages too: calling for de-escalation in public while reportedly urging the White House in private to keep hammering Iran. Officials from Bahrain, Kuwait, Saudi Arabia, and the UAE ...
Ratings agencies warn of impact of Iran warRatings agencies warn of impact of Iran war
The Iran war is testing the resilience of Gulf energy producers, and is starting to have an impact on their credit ratings. Fitch warned on Monday that it could downgrade Qatar’s rating, citing the risk of further damage to the country’s gas facilities while adding that, even if the war ...
Gulf leaders scramble for Hormuz work-aroundGulf leaders scramble for Hormuz work-around
For decades, Iran’s threats to close the Strait of Hormuz if attacked were largely ignored. Saudi Arabia and the UAE invested years ago in pipelines that allow part of their crude exports to bypass the chokepoint, but Bahrain, Kuwait, and Qatar remained trapped by geography. Now there is momentum behind ...
Wall Street bosses stick by the Gulf despite warWall Street bosses stick by the Gulf despite war
Matthew’s view A succession of firms have stepped forward in recent days to say they remain committed to investing in the Gulf. That’s despite a war that seems to lack a clear strategy or endgame, and that is wreaking havoc across the Gulf. Which begs the question: Is Wall Street ...
Are tiny homes the cure for America’s housing woes?Are tiny homes the cure for America’s housing woes?
The News Tiny homes, prefabricated and dropped into backyards across America, could solve two great shortages in the US economy: Housing and cash-generating investments. The CEO of Samara, which spun off in 2022 from Airbnb and makes apartment-sized housing units, from 420 to 950 square feet, that fit in people’s ...
US, Iran expand targets to water infrastructureUS, Iran expand targets to water infrastructure
US President Donald Trump threatened Iran’s water infrastructure while Tehran struck a Kuwaiti desalination plant and fully laden oil tanker off the Arab nation’s coast, further expanding the war beyond military targets. Gulf nations are highly reliant on desalination for fresh water, and damage to the region’s hundreds of plants ...
West eyes East Asia allies to buffer from ChinaWest eyes East Asia allies to buffer from China
Western politicians sought to shore up ties in East Asia in the face of Chinese threats. French President Emmanuel Macron arrived in Tokyo for a state visit where he is expected to seek Japan’s support for correcting “global economic imbalances” that benefit China in particular, a key issue ahead of ...
Inflation fears mount in EuropeInflation fears mount in Europe
The Iran war raised inflation fears, with Europe at particular risk. Eurozone inflation hit 2.5% in March, the highest since January 2025; Germany’s rate also accelerated this month to its highest level in over a year, Spain reported rapid price increases, and the International Monetary Fund said Britain was “especially ...