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Economy
OECD lifts 2026 global growth forecast to 2.9% despite Iran war
The OECD has nudged up its forecast for global growth this year to 2.9%, saying the world economy has absorbed the energy shock from the Iran war better than expected, but it warned that persistent inflation, rising bond yields and the risk of a longer conflict continue to cloud the outlook.
Economy
Qatar rules out Hormuz bypass, launches new investments platform
Qatar said a gas pipeline to bypass the Strait of Hormuz would make no economic sense. It also launched a new investment platform to manage QIA’s domestic holdings and outlined more than $60bn in investment opportunities, in a major reshaping of its sovereign wealth strategy.
Qatar
Losing access to Bab el-Mandeb would be 'catastrophic,' Qatar warns
The Houthi Red Sea coast offensive has placed another vital shipping route at risk as the Hormuz blockade disrupts trade and energy supplies. Qatar said closing the Red Sea gateway would worsen the crisis and has called for a diplomatic solution.
Saudi Arabia
Saudi pipeline shutdown threatens oil supplies to Europe and Asia
The pipeline disruption comes as Gulf oil exports have already fallen sharply and shipping routes face further threats. With no restart date announced, the impact on deliveries to Europe and Asia depends on how long the shutdown lasts.
Economy
Oil surges past $108 after Hormuz attack and Saudi pipeline shutdown
Brent crude climbed above $108 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.
Economy
Qatar’s budget deficit more than doubles amid LNG disruption
The first-half shortfall has exceeded Qatar’s original full-year forecast. Doha has said cuts to operating spending exclude salaries and capital projects, while European gas buyers face delivery cancellations extending into early November as the Iran war postpones revenue.
Economy
Oil surges past $100 a barrel again as US-Iran clashes intensify
Brent crude has shot up to above $100 a barrel after US forces destroyed five Iranian tankers and Tehran responded with missile strikes on Jordan, the latest escalation in the conflict that has kept the Strait of Hormuz largely shut since February.
Qatar
Qatar and UAE say Gulf cannot rely on US alone for region's security
Qatar and the UAE have called for stronger Gulf defences as US security protection is no longer enough, with officials stating that trust with Iran "is a mountain to climb" and that their economies "cannot be held hostage" by Tehran.