UAE port operator DP World's profits fall 60% amid Yemen's Houthi Red Sea attacks The Dubai-based logistics firm reported $265 million in profit for the first half of 2024 ending June 30, down from $651 million the same time last year. United Arab Emirates
Ethiopia-Somalia set for second round of talks in Turkey next week Turkey’s framework proposal for the two countries aims to secure Ethiopian access to the Red Sea while ensuring Somalia's territorial integrity. Turkey
Analysis Is Houthi expansion in Iraq a genuine threat or smoke screen? Iraq's relations with Saudi Arabia are called into question as the Houthis seek to expand their influence in the region. By Francesco Schiavi In Bologna, reporting on security, defense, economy, governance
Houthi attacks on Red Sea shipping wipe $2B off Suez Canal annual revenue The Suez Canal Authority said revenue for fiscal year 2023/24 fell to $7.2 billion, down from $9.4 billion the preceding year. Yemen
Analysis As Gulf maritime threats persist, can EU's naval mission deter Houthis? By Francesco Schiavi In Bologna, reporting on security, defense, economy, governance
Analysis As UK swings left with Labour landslide, what awaits Middle East policy? By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
Analysis Why Houthi Red Sea attacks could inspire more piracy in Indian Ocean By Jack Dutton In Bristol, reporting on regional business, climate change, AI, tech
How Russia seeks to capitalize on US strikes in Yemen, Red Sea tensions Russia has maintained balanced relations in Yemen, while avoiding criticism of the Houthi attacks in the Red Sea, even as its trade has been affected. Gulf
US Navy plans for smaller fleet amid spending caps despite Middle East crisis Facing budget caps and new procurement delays, the Navy is poised to reduce the overall size of its fleet even as attacks by Iran and its proxies in Yemen have led to unprecedented disruptions of commercial shipping in the Red Sea. Washington Pulse
Analysis US Navy faces down Houthi attacks as Washington signals open-ended effort Saudi Arabia has restricted the US military from launching strikes in Yemen from bases on Saudi territory, leaving a US Navy aircraft carrier to shoulder the campaign in the Red Sea. By Jared Szuba In Washington, DC, reporting on defense, national security, military
Interview Yemen’s Houthis undeterred by strikes, senior US Navy commander says In an exclusive interview, the US Navy’s top commander in the Middle East leveled with Al-Monitor about what the current campaign against the Houthis has achieved, saying diplomatic pressure could ultimately get the Iran-backed rebels to halt their brazen attacks on international commercial shipping. With George Wikoff Commander of the US Navy’s 5th Fleet
Iran says arms exports up 40% as missiles transfers to Russia take spotlight Iran boasted significant growth in its weapons exports as its controversial military ties with Russia have come under the spotlight again with reports of new ballistic missile shipments. Iran
Egypt’s Sisi: Suez Canal revenue down as much as 50% over Red Sea attacks The decrease in revenue and traffic in the canal due to attacks by Yemen’s Houthi rebels is exacerbating Egypt’s foreign currency shortage and overall economic crisis. Egypt
Israel’s Ashdod port bounces back from Gaza war setback Israel's Ashdod port is grappling with increased competition, threats from Yemen's Houthis and other regional challenges. Israel
South Africa’s Milkor gets go-ahead to produce drones in Saudi Arabia The Gulf country is bolstering its defense capabilities amid increasing instability in the Middle East. Saudi Arabia
UK’s Cameron heads to Oman to discuss Houthi attacks, Red Sea escalation Ahead of the visit, the foreign minister told the Conservative Middle East Council that Britain is ready to bring forward the moment when it officially recognizes an independent Palestinian state. Oman
Intel gap vexes US Navy's hunt for Houthi missile smuggling Military officials admit the US Navy and its allies haven’t had much success interdicting the flow of advanced weapons components — warheads, computer guidance systems and the like — from Iran to the Houthis. Gulf
Red Sea trade hit can be 'managed' amid weak global demand, says WEF Maroun Kairouz, director of the World Economic Forum for the Middle East and North Africa, told Al-Monitor that the Israel-Hamas conflict has not had a material impact on global energy markets so far. Yemen