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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.

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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.

Economy

New risk to inflation? Cost of the Red Sea attacks on global trade

Higher shipping costs and longer delivery times bring a new risk to global inflation.

Yemen

Shipping companies abandon Red Sea routes over Houthi attacks

The decision comes as a British destroyer shoots down a 'suspected attack drone' in the ocean which lies between Asia and Africa.

Yemen

US warship and multiple commercial ships come under attack in Red Sea

The Pentagon made the announcement as a British ship was reportedly hit by rocket fire in Red Sea off Yemen coast. Drone activity has also been reported in the area which separates East Africa from the Arabian Peninsula.

Yemen

Yemen's Houthi rebels seize Israeli-linked cargo ship in Red Sea

They took over two dozen crew members hostage and raised fears that regional tensions are heightening over the Israel Hamas war

Destinations

Will Saudi Arabia be the world’s best scuba diving destination?

Saudi Arabia’s 28,000 square kilometre development on the Red Sea coast is focused on two destinations: Red Sea Global and Amaala. The project will bring a plethora of luxury hotels, dining and outdoor experiences to visitors - all with a sustainable attitude.

Destinations

Will Alula be the new arts centre of the Middle East?

With airport expansion plans and new attractions, the ancient city of AlUla could soon be the arts and culture hub of Saudi Arabia.