Author: Dr Issac PJ
The world could be heading towards a fresh energy shock unless the Strait of Hormuz is fully reopened within weeks, according to Fatih Birol, Executive Director of the International Energy Agency (IEA), who has warned that the global economy is rapidly running out of the buffers that have so far prevented a much deeper oil crisis.In one of his starkest assessments since the outbreak of the US-Iran conflict, Birol said the world is approaching a critical juncture as emergency oil inventories are depleted and peak summer travel demand begins to gather pace across Asia, Europe and North America.âÂÂIf we are…
Bitcoin suffered one of its sharpest declines this year on Thursday, tumbling more than 7 per cent to below $62,000 and wiping out more than $1.1 billion in leveraged positions, as investors fled riskier assets amid escalating geopolitical tensions and fading institutional appetite for cryptocurrencies.The world’s largest cryptocurrency dropped to its lowest level since February, extending a prolonged correction that has erased more than half of its value from the all-time high of $126,210 reached in October last year.According to CoinMarketCap data, Bitcoin’s market capitalisation has shrunk to about $1.24 trillion, down nearly 50 per cent from its peak valuation…
[Editor’s Note: Follow the media live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]India’s rupee is facing its most severe test in recent memory, with economists warning that the currency could weaken to a record Rs98 against the US dollar, or to Rs96.70 against the dirham, by July and potentially breach the psychologically important Rs100 mark if the Middle East conflict drags on and oil prices remain elevated.The warning comes as India’s currency struggles under the combined weight of soaring energy costs, heavy foreign fund outflows and mounting geopolitical uncertainty. The rupee, already Asia’s worst-performing major currency this…
[Editor’s Note: Follow the media live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.] Global oil markets are entering a critical phase as the prolonged disruption to shipping through the Strait of Hormuz threatens to push crude prices towards $150 a barrel, a level that economists warn could trigger significant economic pain across both energy-importing and energy-exporting nations.Brent crude climbed back towards the $97 mark on Wednesday after fresh military action in the Middle East reignited concerns about supply disruptions in one of the world’s most important energy corridors. The August Brent contract was trading at $96.99…
The UAE’s non-oil private sector continued to expand in May despite mounting geopolitical tensions in the Middle East and the most severe supply-chain disruptions since the Covid-19 pandemic, underscoring the resilience of the country’s diversified economy and the adaptability of businesses operating in the region.The latest S&P Global UAE Purchasing Managers’ Index (PMI) rose to 52.6 in May from 52.1 in April, signalling a further improvement in business conditions across the non-oil economy. Although the pace of expansion remained below the long-term survey average of 54.3, the increase points to continued growth at a time when businesses worldwide are grappling…
Dubai’s property market regained its stride in May, extending the sharp rebound that began in April and underscoring the sector’s resilience in the face of geopolitical uncertainty in the Middle East.After a brief slowdown in March triggered by regional tensions, the market quickly regained momentum as investor confidence returned, international travel normalised and buyers resumed transactions that had been temporarily put on hold. The recovery was reflected in consistently strong transaction volumes, renewed activity in the mortgage market and sustained demand across both the luxury and off-plan segments.Data from the Dubai Land Department showed weekly real estate transactions regularly exceeding…
The UAE is accelerating its transformation into a global trade and logistics powerhouse as the Iran war redraws supply chains, disrupts traditional shipping routes and forces economies to rethink the architecture of international commerce.Speaking at the GLOBSEC Forum 2026 in Prague, Thani bin Ahmed Al Zeyoudi said the regional conflict has not derailed the country’s long-term economic strategy but instead hastened the diversification of trade corridors and reinforced the UAE’s position as one of the world’s most resilient commercial hubs.Participating in a high-level panel discussion titled “The Ripple Effect: How the Iran War is Shaping Global Economies and Politics,” Al…
The UAE’s commercial real estate market continued to demonstrate remarkable resilience in the first quarter of 2026, with office rents recording double-digit growth in both Dubai and Abu Dhabi as demand for premium space continued to outpace supply despite heightened geopolitical uncertainty across the Middle East.According to the latest Real Estate Market Dynamics report released by JLL, strong economic fundamentals, robust occupier confidence and limited availability of quality office space helped sustain momentum across the UAE’s office and retail sectors even as businesses adopted a more cautious approach to expansion and leasing decisions.The report highlighted a pronounced “flight to quality”…
Fitch Ratings has reaffirmed the UAE’s sovereign credit rating at ‘AA-’ with a stable outlook, citing the country’s strong fiscal and external buffers, low government debt and resilience of hydrocarbon revenues despite the economic disruptions caused by the Iran war and regional geopolitical tensions.The reaffirmation places the UAE among the highest-rated sovereigns in the Middle East and underscores investor confidence in the country’s ability to withstand external shocks even as the region navigates one of its most volatile periods in recent years.In its latest assessment, Fitch said the stable outlook reflected expectations that the UAE’s oil export revenues would remain…
Gold is once again emerging as the world’s preferred safe-haven asset as geopolitical tensions in the Middle East, uncertainty over US monetary policy and fears of a global economic slowdown trigger a renewed rush into precious metals.After weeks of volatile trading driven by the Iran conflict and sharp swings in oil prices, gold rebounded strongly this week, climbing above the key $4,550-an-ounce level as investors returned to defensive assets amid weakening US Treasury yields and a softer dollar.Silver also recovered sharply, hovering near $78 an ounce, although both metals remain trapped within critical technical ranges that analysts say could determine…