English

More about this topic

Economy

Middle East tensions fuel chances of oil price surge

Following a drone attack on a US airbase in Jordan, the Middle Eastern conflict could get worse. US President Joe Biden says his country "will hold all those responsible to account at a time and in a manner of our choosing".

Yemen

Crew extinguish fire on tanker hit by Houthi missile off Yemen

The incident comes after US forces targeted the Iran-backed rebel group in a fresh airstrike.

Yemen

Euroviews. The Houthis are the epitome of 21st-century non-state actors

The Houthi resistance against a coalition of regional and even far-off powers has only fueled their reputation, transforming them from a marginalised local group to an influential regional actor, Hafed Al-Ghwell writes.

Economy

Inflation risk as Red Sea attacks send shipping costs sky high

Houthi attacks in the Red Sea have disrupted crucial trade routes between Europe, the Middle East, and Asia, leading to concerns of renewed inflationary pressures.

ADVERTISEMENT

Yemen

Who are Yemen’s Houthi rebels?

The group, a Zaidi Shiite movement that’s been fighting Yemen’s Sunni-majority government since the early 2000s, recently launched a series of attacks on commercial vessels in the Red Sea which have disrupted global trade.

Yemen

US launches another barrage of missiles against Houthi sites in Yemen

The US Navy said missiles hit 14 Houthi military targets that were preparing to launch further salvos at merchant vessels.

Europe News

Red Sea crisis a risk for EU economy, trade chief warns

Trade disruptions caused by instability in the Red Sea pose a risk for the EU’s economic outlook as well as the supply and price of energy, the bloc’s trade commissioner Valdis Dombrovskis warned on Tuesday.

Business

Euroviews. The Red Sea conflict may see Europe's economic concerns heighten

All the goods and merchandise travelling by container will not only reach their destination late but prices will now reflect increased costs. This will mean higher prices on shelves which, in turn, will lead to an overall increase in inflation, Osama Rizvi writes.

Yemen

Houthi rebels fire cruise missile at American destroyer in Red Sea

This was the first reaction from Houthis since the US and UK launched strikes against their bases and launch sites in Yemen.

Yemen

US military strikes another Houthi target in Yemen despite UN requests

The US military carried out another strike on a Houthi-controlled site in Yemen early Saturday, targeting a location which they considered to pose a threat to commercial vessels in the Red Sea. This action followed a series of airstrikes by the US and Britain against Houthi rebels on Thursday.

Economy

Red Sea trade route still months away from safety, says Maersk boss

Trade in the Red Sea has significantly reduced ever since the start of the Houthi conflict and could still be several months away from returning to normal levels.

Europe News

EU mulls sending warships to protect Red Sea vessels from Houthis

Brussels wants to launch a bespoke EU mission to protect commercial vessels in the Red Sea from attacks by Iran-backed Houthi rebels.

Yemen

Britain and America launch massive strikes against Houthis in Yemen

British jets based in Cyprus targeted Houthi missile and drone facilities after weeks of threats to shipping in the Red Sea.

Yemen

US and UK thwart largest Houthis attack in Red Sea

The Yemeni rebel group launched an attack with drones and missiles, amid a planned UN Security Council vote to condemn their strikes in the vital shipping lane.

Markets

Will shipping stocks rally caused by Red Sea woes last?

Shares of major European maritime shippers such as Maersk and Hapag-Lloyd have substantially surged in value due to Red Sea disruptions, with increased costs passed on as higher freight rates. Goldman Sachs and J.P Morgan analysts discuss whether this trend is likely to last.

Europe Decoded

EU states try to 'strike the right balance' on US operation in Red Sea

European Union allies have been reluctant to back a United States-led naval operation to safeguard ships from attacks by Houthi militants in the Red Sea.

Yemen

US forces shoot down Houthi missiles in Red Sea

A US spokesperson says their forces also killed several gunmen during the attack by Yemen's Houthi rebels.

Israel

Red Sea strife: All you need to know about the crisis hampering world trade

Attacks by Houthis have severely disrupted shipping in the Red Sea, a vital waterway that accounts for 12% of world trade.

Business

Shipping giant Maersk prepares to restart operations in Red Sea

Denmark's Maersk, like several other shipping companies, had paused Red Sea journeys due to Houthi attacks in the area.

World News

Pentagon: Drone launched from Iran strikes tanker in Indian Ocean

A drone launched from Iran struck a chemical tanker in the Indian Ocean early on Saturday, in what appears to be the first attack on a commercial vessel outside the Red Sea since a recent flurry in the area.