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The Latest Breaking News from Gulf

Gulf countries act as propellants for SpaceX IPO as billions flow in

Saudi Arabia's Public Investment Fund and Kuwait Investment Authority have each placed orders for shares worth $1 billion to $5 billion, the people said, asking not to be identified discussing confidential information. The $580 billion Qatar Investment Authority is also likely to make a significant commitment, the people said.

The Economic Times

US strikes Iran-bound tanker near Oman, sparking India protest over missing crew

US Central Command said it fired on the Palau-flagged Settebello after the crew ignored orders, hitting its engine room as the vessel attempted to carry Iranian oil in violation of the US blockade.

Euronews

Iran attacks US bases in Jordan and Bahrain

TEHRAN - Iran attacked American bases in Jordan and Bahrain on Wednesday, warning its Gulf neighbours that they had a "responsibility" to stop the United States and Israel from using their territory to strike the Islamic republic.

Bangkok Post

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Jordanian military intercepts 5 Iranian missiles amid sharp US-Tehran escalation in Gulf

Jordan's air defence systems intercepted multiple projectiles launched from Iran. Iran claimed to have destroyed hangars housing F-35 jets and targeted US bases in Jordan. Further explosions were reported in Kuwait and Bahrain. Iran stated its naval forces attacked the US Fifth Fleet headquarters in Bahrain.

The Economic Times

Iran-US war latest: Tehran attacks 18 US airbases across Middle East after Trump orders major new strikes

US Defence Secretary Pete Hegseth warned that the military would be ‘busy tonight’ ahead of the fresh strikes

The Independent UK

The Gulf states are betting big on AI: who’s investing where?

Gulf states are now frontrunners in the AI race but competition will only intensify.

Fortune

How are Saudis viewing the US-Iran war? Our polling suggests Gulf kingdom is split on key issues

Since the beginning of the Iran war, Saudi Arabia has been grappling with how best to respond to the expansion of Middle East conflict.

The Conversation

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John Bolton warns that Trump’s decisions in the Iran war could spark a nuclear arms race in the region

Project Freedom lasted less than two days, apparently.

We Got This Covered

Fortune Gulf Brief: Gulf investments to see liftoff from SpaceX IPO

The windfalls Gulf sovereign wealth funds are poised to receive will offer a nicely timed boost to their balance sheets.

Fortune

Cuba earthquake: 6.1 magnitude earthquake hits offshore; tremors felt in Florida

Cuba earthquake today: A powerful 6.1 magnitude earthquake shook western Cuba on Monday. Buildings in Havana trembled and tremors reached Florida. No injuries or damage were immediately reported. The quake occurred in waters west of Havana. Officials in Miami evacuated buildings as a precaution. This was the largest earthquake recorded…

The Economic Times

Iran War Upends the Global Oil Industry: Kiplinger Special Report

Even after the war ends, oil producers and importers will be racing to lessen their reliance on oil shipments through the Persian Gulf.

Kiplinger

India turns to nuclear power as Gulf risks rise

India is boosting its energy security. Investments are growing in solar, wind, and nuclear power. Recent geopolitical events highlight nuclear energy's role. India's nuclear program is advancing with new reactors and private sector involvement. The nation aims for significant nuclear capacity by 2047. This strategy diversifies energy sources and reduces…

The Economic Times

Supreme Court issues notice to CBSE on plea to declare Class 12 improvement examination result

The SC has taken up a case involving a Saudi Arabian student. He seeks his Class 12 improvement exam results from the CBSE. The court has issued a notice to the CBSE. The student's career and higher education prospects are at stake. Examinations in several Gulf countries were cancelled due…

The Economic Times

West Asia War: Hormuz strait will be open but with transit fees, Iran envoy to Moscow quoted

Iran and Oman will control passage through the Strait of Hormuz. New conditions, including transit fees, will be implemented. This follows disruptions to oil flows due to a conflict. Several tankers have recently exited the Gulf. Oil and gas flows remain restricted. Iran stated fees will depend on ship type…

The Economic Times

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The Economic Times

Silver prices tank Rs 5,500/kg, gold down Rs 1,800/10 gm as Israel attacks, rising crude trigger panic. Should you sell?

Gold and silver prices opened lower on MCX on Monday. Escalating Gulf tensions pushed oil prices higher, fueling inflation worries. Stronger US economic data reinforced expectations of prolonged high interest rates. MCX silver futures for July 2026 delivery fell 2.23%, while gold futures for August 2026 delivery slipped 1.15%. Investor…

The Economic Times

Gold extends losses on US interest rate-hike fears

Gold prices dipped on Monday, extending previous losses amid U.S. interest rate hike fears. Meanwhile, escalating tensions in the Gulf sent oil prices soaring, fueling inflation concerns. China's central bank continued to increase its gold reserves. Gold demand in India remained subdued due to price volatility. Silver and platinum prices…

International Business Times

U.S. Reportedly Considering Using Frozen Iranian Assets To Finance Rebuilding In Gulf Allies

The U.S. is reportedly considering using frozen Iranian assets to finance the rebuilding by Gulf allies who sustained damages resulting from the country's strikes.

Euronews

Washington could tap into Iran's frozen billions to pay for Gulf attack damage

The Iranian assets Washington is considering reallocating could include frozen funds, along with ships previously seized by the United States.

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The Independent UK

Iran-US war latest: Israel launches retaliatory strikes on Iran’s military targets after missile attack

Explosions were reported in several cities, including Tehran and Isfahan

The Economic Times

US forces shoot down two Iranian attack drones in Strait of Hormuz amid fresh escalation

United States forces have intercepted and destroyed two Iranian drones. These drones posed a threat to commercial shipping in the Strait of Hormuz. This action marks a fresh escalation of hostilities in West Asia. The incident follows Iran's earlier missile and drone attacks on the strategic waterway and its Gulf…

The Times of India

Iran peace deal at risk? US considers redirecting Iranian assets to Gulf states

The US is exploring redirecting frozen Iranian assets to Gulf states for rebuilding after missile and drone strikes. This move comes as indirect negotiations between the US and Iran remain deadlocked, with Tehran demanding the release of $24 billion in frozen funds. Military tensions continue to escalate across the region…

The Economic Times

Middle East conflict fuels airline bankruptcy risks, more mergers likely: IATA

Soaring jet fuel prices due to Middle East conflict are pushing budget airlines towards bankruptcy and industry consolidation, according to the head of the global airline body. Slow aircraft and engine deliveries are exacerbating these financial strains. Despite challenges, the low-cost model remains viable outside the U.S., and the industry…

The Economic Times

US weighs seizing Iranian assets to rebuild Gulf states hit by Tehran's attacks

The U.S. plans to redirect Iranian assets to Gulf states for rebuilding and repairs following recent Iranian attacks. Treasury Secretary Scott Bessent is assessing damage costs, with frozen assets potentially used for compensation. This comes amid stalled peace negotiations and renewed skirmishes between the U.S. and Iran.

Fortune

The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'

"The attack drones posed an immediate threat to regional maritime traffic," U.S. Central Command said.

The Independent UK

A new exchange of fire with Iran in the Gulf tests the fragile ceasefire

Iran has fired ballistic missiles and drones toward Bahrain and Kuwait, according to Bahrain’s government

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