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All oil suppliers to Cuba face threats from US — Foreign Minister

Over four months, only one shipment of fuel has arrived in Cuba, Foreign Minister Bruno Rodriguez Parrilla said

MSC launches Europe–Gulf route via Saudi ports to bypass Strait of Hormuz

MSC, the world’s largest container shipping company, has launched a new main trade route linking Europe to the Middle East via Saudi Arabia, bypassing the Strait of Hormuz.The new service combines maritime and land transport, with vessels from Europe calling at Jeddah Islamic Port and King Abdullah Port in Rabigh on the Red Sea, before cargo is transported overland to King Abdulaziz Port in Dammam.Get updated faster and for FREE: Download the Gulf News app now - simply click here.From there, shi...

क्या होर्मुज में दोहराई जाएगी 42 साल पुरानी कहानी, बन रहे वैसे ही हालात

Asia Central Banks Expected to Move to Higher Interest Rates: JPMorgan AM

Jason Pang of JPMorgan Asset Management says that "higher oil for longer will translate into a more hawkish bias" among central banks in Asia. He also tells Bloomberg Television that "Malaysia, local, remains a good exposure for investors." (Source: Bloomberg)

UK airlines Ryanair, easyJet and British Airways may increase baggage fees amid jet fuel crisis

UK airlines are expected to 'increase baggage fees' and charge more for overweight luggage as the Middle East war fuel crisis has put pressure on their finances

ABK-UAE becomes first Kuwaiti and GCC bank to obtain ADREC licence for real estate escrow agent in Abu Dhabi

Strengthening its role as a trusted financial partner, Al Ahli Bank of Kuwait – United Arab Emirates (ABK-UAE) has been appointed to act as an Escrow Account Agent in Abu Dhabi by the Abu Dhabi Real Estate Centre (ADREC). With this appointment, the bank becomes the first Kuwaiti and GCC bank to obtain this licence, reinforcing the alignment between the bank’s strategic direction and the Abu Dhabi Government’s vision to provide a secure and well-regulated investment environment.This appointment r...

Hard choices

ONE year has passed since India decided to hold the Indus Waters Treaty (IWT) in abeyance. Pakistan’s National Security Council issued a warning, shortly after the Indian Cabinet Committee on Security’s decision, that any attempt to divert water flows will be regarded as an “act of war”. A year later, there are no visible signs towards the treaty’s restoration, and it remains essentially paralysed. India has expedited development on a number of controversial hydropower projects by revising compl...

Chinese Metals Demand Gets Lift as Mideast War Spurs Export Boom

Metal exports from China, especially aluminum, are getting a significant lift from the war in the Middle East, which has cut regional supplies while boosting demand for clean-tech products as fossil fuel prices soar.

Saudi Arabia posts SR125.7 billion deficit in Q1 2026 on lower oil revenues

Saudi Arabia recorded a budget deficit of 125.7 billion riyals ($33.5 billion) in the first quarter of 2026, as a decline in oil revenues and a sharp rise in government spending weighed on public finances, the Ministry of Finance said.Total revenues reached SR260.97 billion in Q1, with oil income contributing SR144.72 billion despite a 3 per cent year-on-year decline, the ministry said in its quarterly budget report.Get updated faster and for FREE: Download the Gulf News app now - simply click h...

Serbia sees Russian gas supply terms as favorable — minister

Nenad Popovic stressed that energy cooperation with Russia remains a key factor in the stability of the Serbian economy

Nepra walks back Rs42bn penalties on National Transmission and Dispatch Company

• Fines imposed on transmission company over violations of economic merit order• IHC had stayed deductions of dues, referred matter back to regulator• Nepra insists earlier action ‘did not fully align with legal framework’ ISLAMABAD: In a major U-turn, the National Electric Power Regulatory Authority (Nepra) on Tuesday withdrew Rs42 billion in penalties imposed on the National Transmission and Dispatch Company (NTDC) for alleged violations of the economic merit order (EMO) in the utilisation of...

Australia to establish 1 billion-litre national fuel stockpile

Australia will establish a national fuel stockpile of one billion litres to shield the nation from an energy crisis triggered by war in the Middle East, Prime Minister Anthony Albanese said Wednesday.Albanese said the government-owned reserve would bolster long-term supplies of diesel and aviation fuel."Our number one priority remains shielding Australia from the worst effects of this crisis," Albanese told reporters.The measures would be further detailed next week when Australia unvei...

Anthony Albanese's huge fuel announcement for Australia - as government celebrates major shift many are making amid fuel crisis

Anthony Albanese's huge fuel announcement for Australia - as government celebrates major shift many are making amid fuel crisisGovernment owned fuel supply to be createdMinimum fuel reserve requirements to be expandedBy NICHOLAS COMINO, POLITICAL REPORTER, AUSTRALIA Published: 02:59, 6 May 2026 | Updated: 02:59, 6 May 2026 e-mail View comments

Major airlines cancel 13,000 flights in May - including more than 100 from Heathrow

The US-Iran war could impact summer travel plans for Britons as closure of the Strait of Hormuz trade route and ongoing tensions drives up jet fuel prices

Oil prices ease as US seeks reopening of the Hormuz Strait

Oil prices ease as US seeks reopening of the Hormuz Strait7 minutes agoShareSaveAdd as preferred on GoogleOsmond ChiaBusiness reporterAdam J. Dewey/Anadolu via Getty ImagesOil prices edged lower in early Wednesday trade in Asia after US President Donald Trump raised hopes for an agreement with Iran to end the war.Trump said the US would pause its operation to guide ships through the key Strait of Hormuz trade route - a move that triggered an escalation in attacks in the region - to see if a deal...

Enercap to develop 36GW energy storage battery facility in Abu Dhabi

ABU DHABI: Enercap, a subsidiary of Apex Investment PSC, is showcasing its latest advanced energy storage solutions and technologies during its participation in the Make it in the Emirates 2026 platform, affirming its role in supporting critical infrastructure in the UAE and reinforcing the country’s position as a regional and global hub for advanced energy technologies.Ahmed Amer Omar, Managing Director of Enercap, told the Emirates News Agency (WAM) that the company’s locally developed technol...

Samsung Electronics market value tops $1 tn on chip boom

The market value of Samsung Electronics topped $1 trillion for the first time on Wednesday, riding an AI chip boom that has sent South Korean stocks to record highs.It came as the country's benchmark Kospi index also jumped by more than five percent in morning trading, blowing through the 7,000-point milestone at the opening bell for the first time.Samsung net profit surges fivefold in A1 2026 on AI-driven demandSamsung Electronics forecasts record profit in Q4-2025Tesla taps Samsung for AI6 Chi...

Over 2,400 Russian-linked companies registered in Serbia

Serbian Minister in charge of international economic cooperation Nenad Popovic pointed out that Serbian and Russian specialists can jointly participate in international projects and competition

The Reserve Bank boss finally said it. She spoke truth to power. But is the one person who could stop inflation in Australia listening?

The Reserve Bank boss finally said it. She spoke truth to power. But is the one person who could stop inflation in Australia listening?By PETER VAN ONSELEN, POLITICAL EDITOR, AUSTRALIA Published: 02:24, 6 May 2026 | Updated: 02:24, 6 May 2026 e-mail View comments

Russia, Bangladesh discussing supplies of Russian oil products — embassy

The Russian Embassy in Dhaka also noted potential in the gas sector