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☆ Houthi attacks in the Red Sea are now wrecking world cruisers' vacation plans
▼ + stars: | 2024-01-31 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The cruise industry is being hit by ongoing Houthi attacks in the Red Sea. Among the cancellations are some 20-day world cruise voyages. AdvertisementEscalating tensions in the Red Sea amid ongoing Houthi attacks have already hobbled global trade and prompted a US military response. Carnival Cruise Lines is the most recent player to confirm schedule changes because of the risks. MSC Cruises cancelled three sailings in April to avoid traversing the Red Sea, a spokesperson for the company told Business Insider.

Persons: —, Princess Cruise Organizations: Service, Cruise, Business, Princess, Carnival, Costa Cruises, United, CNN, Royal, Mediterranean Shipping Company, MSC Cruises, MSC Locations: Red, Iran, Los Angeles, East, Asia, Australia, South Africa, West Coast of Africa, Sydney, Costa, United Arab Emirates, Italy, Royal Caribbean, Europe, Africa

☆ Ship Carrying 16,000 Sheep and Cattle Stranded off Australia
▼ + stars: | 2024-01-31 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

"It's very hard to imagine that that is consistent with the animal welfare standards that Australians expect to be applied to Australian animals." ROUGH WEATHERAustralia is a major exporter of live animals, shipping more than half a million sheep and half a million cattle last year. Most cattle go to Asian markets such as Indonesia and Vietnam but the Middle East is by far the biggest destination for Australian sheep. Israel is a key market, receiving 86,100 sheep worth $6.5 million and 10,848 cattle worth $14 million from Australia in the first three months of last year, trade data show. Australia's Labor government has pledged to outlaw exports of live sheep in coming years but faces angry pushback from farm groups who say this would put people out of work and destroy farming communities.

Persons: Peter Hobson CANBERRA, Yemen's, Josh Wilson, Bassem, Geoff Pearson, Canberra, Peter Hobson, Stephen Coates Organizations: Fremantle, WA Farmers, Reuters, Korkyra Shipping, Labor Locations: Australia, Israel, Africa, Red, Europe, Asia, Indonesia, Vietnam, New Zealand

☆ A Houthi missile got so close to a US destroyer the warship had to turn to a last resort gun system to shoot it down: report
▼ + stars: | 2024-01-31 | by ( Ella Sherman | Jake Epstein | ) www.businessinsider.com time to read: +4 min

A Houthi missile put a US destroyer's Close-In Weapon System to the test in a recent engagement. The Tuesday incident marks the latest Houthi missile attack, though not the latest exchange of fire. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementA Houthi anti-ship cruise missile fired into the Red Sea came within a mile of a US Navy destroyer on Tuesday, close enough that the American warship had to turn to its Close-In Weapon System — a last line of defense. Advertisement"We're certainly taking aggressive action against the Houthis to try to defend shipping in the Red Sea," White House National Security Council spokesperson John Kirby said this week.

Persons: —, CENTCOM, US Navy Arleigh Burke, Jessica Dowell, Andrew Albin The, Aden —, John Kirby Organizations: Service, US Navy, CNN, US Central Command, Raytheon, System, US, National Security Locations: American, Yemen, Iran, Greenland, Gulf, Aden, Red

☆ Hunger is India’s ‘biggest problem’ — one of the world's largest food producers leaves millions hungry
▼ + stars: | 2024-01-31 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

A labourer works inside a mill of refined wheat flour at Khanna in India's Punjab state on May 18, 2022. "Hunger is the biggest problem in India," a representative of global agribusiness Bunge told CNBC on the sidelines of the Commodity Trading Week held in Singapore. If they are getting the food, it's not nutritious," said Amit Sharma, Bunge's global trade execution team leader. India's Department of Food and Public Distribution did not immediately respond to CNBC's request for comment. Vipin Kumar | Hindustan Times | Getty ImagesIndia's food problem is also compounded by the fact that the rising middle class is on course to demand for more food — and better quality food as well.

Persons: Sajjad Hussain, Bunge, There's, Amit Sharma, Sharma, India's, Garima, Louis Dreyfus, Vipin Kumar, Jain, It's Organizations: AFP, Getty, CNBC, Logistics, International Trade Administration, U.S . Commerce Department, India's Department of Food, ITA, Hindustan Times Locations: Khanna, India's Punjab, India, Singapore

☆ The Red Sea crisis tests China’s global ambitions
▼ + stars: | 2024-01-30 | by ( Nectar Gan | ) edition.cnn.com time to read: +10 min

China’s responseThe Houthi rebels in Yemen started firing missiles and drones at ships in the Red Sea in mid-November, in what they say is an act of solidarity with Palestinians. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.

Persons: Houthi, “, ”, Mordechai Chaziza, Xi Jinping, Israel, ” Chaziza, Wang Yi, Jake Sullivan, Iran ”, we’re, Wang, Sullivan, Ebrahim Raisi, Yan Yan, OOCL, Kuehne + Nagel, Jonathan Fulton, “ can’t, ” Fulton, William Figueroa, Xi Organizations: Hong Kong CNN, Ashkelon Academic College, Beijing, Iran, People’s Liberation Army Navy, Britain, United Nations Security Council, Global, Western, Chinese Foreign, White House, Reuters, Chinese Foreign Ministry, China, Shanghai Shipping Exchange, Atlantic Council, University of Groningen, Xi’s Global Security Initiative, GSI, Hamas Locations: Hong Kong, Red, Israel, Ashkelon, United States, China, Europe, Yemen, Gulf, Aden, Djibouti, Beijing, Gaza, Bangkok, Iran, Tehran, Africa, Switzerland, Francisco, Shanghai, Abu Dhabi, Egypt, Suez, Sea, Saudi Arabia, Netherlands

Global inflation is expected to fall to 5.8% in 2024 and to 4.4% in 2025. “The global economy begins the final descent toward a soft landing, with inflation declining steadily and growth holding up. That is not to say the global economy is without challenges. It also raises concerns about a revival of global inflation pressures as importers face surging shipping costs,” said Lydia Boussour, senior economist at EY-Parthenon. “For now, we don’t expect the situation in the Red Sea to substantially alter the outlook for global inflation and global monetary policy this year,” she added.

Persons: ” Pierre, Olivier Gourinchas, ”, Lydia Boussour, Gourinchas, ” Gourinchas, Eric LeCompte, LeCompte Organizations: Monetary Fund, IMF, Federal Reserve, . News, USA Locations: U.S, China, –, Ukraine, Iranian, Suez, EY, India, Russia, East, Central Asia, Saudi Arabia, “, Brazil

FRANKFURT, Germany (AP) — Europe’s economy failed to expand at the end of 2023, with the stagnation now lasting for more than a year amid higher energy prices, costlier credit and lagging growth in powerhouse Germany. Zero economic growth for the October-to-December period of last year follows a 0.1% contraction in the three months before that, according to figures released Tuesday by EU statistics agency Eurostat. That extends a miserable run of economic blahs: The 20 countries that use the euro currency have not shown significant growth since the third quarter of 2022, when the economy grew 0.5%. With higher shipping costs and delays to products from clothes to keyboard components, concerns are growing of new consumer price spikes if the conflict in Gaza drags on or escalates. The trade disruption could add as much as 0.5% to core inflation, which excludes volatile fuel and food prices, Oxford Economics said.

Persons: ”, Holger Schmieding, Yemen's Houthi Organizations: EU, Eurostat, European Central Bank, Oxford Economics, ECB, Hamas, Oxford Locations: FRANKFURT, Germany, Suez, Asia, Europe, Berenberg, United States, Russia, Ukraine, Red, Africa, Gaza

☆ The global economy is expanding, but the Red Sea crisis could spell trouble, says IMF
▼ + stars: | 2024-01-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The outlook for the global economy is brightening, the International Monetary Fund said Tuesday as it upgraded its growth forecast for 2024. It expects global growth in gross domestic product — a key measure of economic activity — to pick up slightly to 3.2% next year. Despite the IMF’s upgrades, its projections for global growth for 2024 and 2025 are below the annual average of 3.8% clocked up over the first two decades of this century. The longer and costlier journeys have raised fears of a renewed rise in global inflation. An escalation in the Israel-Hamas war into a wider conflict in the Middle East would threaten global growth, the fund added.

Persons: Pierre, Olivier Gourinchas, Valerie Plesch Organizations: London CNN, International Monetary Fund, IMF, Federal Reserve, Bloomberg, Getty Images, Hamas Locations: Ukraine, Red, United States, India, Washington , DC, Getty Images Iran, Israel

☆ Global trade will fall this year amid slower growth and Red Sea turmoil, WTO official says
▼ + stars: | 2024-01-29 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Read previewThe World Trade Organization is likely to slash 2023 and 2024 trade projections due amid weaker-than-expected global economic activity and disruptive attacks by Houthi militants in the Red Sea. The WTO previously projected a rise of 0.8% in merchandise trade volumes for 2023 and a 3.3% increase for 2024. Ossa said the WTO would publish updated forecasts in the coming months, and various global organizations have trimmed their GDP growth forecasts this year, impacting the WTO's trade predictions. He also emphasized a growing uptick in consumer prices due to surging shipping costs since the Houthi attacks began. The Galaxy Leader cargo ship is escorted by Houthi boats in the Red Sea in this photo released November 20, 2023.

Persons: —, Ralph Ossa, Ossa, haven't, Joe Biden Organizations: Service, Trade Organization, Business, WTO, Reuters, Galaxy Leader, Houthi Military Locations: Red, Iran, Suez, Europe

☆ Consumers Feel Better About the Economy. Why? Gas Prices, Eggs, Stocks
▼ + stars: | 2024-01-29 | by ( Emily Stewart | ) www.businessinsider.com time to read: +6 min

Listen, I'm not saying that all the good vibes Americans are suddenly feeling about the economy boil down to stocks, gas prices, and eggs. What improved America's economic vibes was basically three things: the soaring stock market, falling gas prices, and eggs. Research shows that consumers feel more pessimistic when gas prices go up — James Surowiecki points out in The Atlantic that high gas prices also make people less happy and more likely to hate the president. If oil prices stay relatively low and, in turn, keep gas prices down, less exasperated drivers could help Joe Biden keep his job come November. There are all sorts of geopolitical threats and unknowns that could throw global trade and oil prices (and thus gas prices) into chaos.

Persons: I'm, there's, There's, Jordan Weissmann, —, It's, James Surowiecki, Joe Biden, they're, Emily Stewart Organizations: University of, Dow, Federal Reserve Bank of San, AAA, Research, Bureau of Labor Statistics, Times, Business Locations: America, The

☆ Photos show US carrier's nighttime missions to counter Houthi rebels
▼ + stars: | 2024-01-29 | by ( Lauren Frias | ) www.businessinsider.com time to read: +2 min

The US and UK launched airstrikes against Houthi rebels in Yemen earlier this month. The strikes were in retaliation to Houthi attacks on commercial shipping vessels in the Red Sea. AdvertisementThe US and UK launched a series of airstrikes against Houthi militants in Yemen earlier this month. Despite the strikes, Houthi rebels continued to attack commercial shipping vessels. Photos and video footage show the flight operations aboard the aircraft carrier, the USS Dwight D. Eisenhower, ahead of the intense strikes.

Persons: —, Houthi, Dwight D, Eisenhower Organizations: US, UK, Service, Houthi, New York Times Locations: Yemen, Red, Australia, Bahrain, Canada, Netherlands

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was “impacting everyone and something we’re very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was “only mildly impacted by the transit challenges in the Red Sea."

Persons: What’s, Ryan Petersen, Petersen, It’s, Clifton Broumand, Broumand, —, ”, “, it’s, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, it's, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti, ____ Anderson, Kelvin Chan, Anne D'Innocenzio, Yuri Kageyama, Tom Krisher, David McHugh Organizations: WASHINGTON, —, Hamas, Machine, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer, Free People, AP Business Locations: Belgium, Germany, British, Maryland, Asia, Ukraine, Yemen, Gaza, Europe, United States, Suez, Africa, “, Panama, Greater Landover , Maryland, Taiwan, China, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India, New York, London, Tokyo, Detroit, Frankfurt

☆ Attacks on ships in the Red Sea are disrupting global trade. Here’s how it could affect what you buy
▼ + stars: | 2024-01-28 | by ( ) www.cnbc.com time to read: +8 min

Attacks on ships in the Red Sea are delivering another shock to global trade, coming on top of pandemic-related logjams at ports and Russia's invasion of Ukraine. The normal route — three weeks via the Suez Canal — has been shut down by the Houthi attacks. Chief executive Stuart Machin said the Red Sea trouble was "impacting everyone and something we're very focused on." For Europe, the impact is even bigger: 40% of clothes and 50% of shoes traverse the Red Sea. Norwegian fertilizer giant Yara said it was "only mildly impacted by the transit challenges in the Red Sea."

Persons: It's, Petersen, Ryan Petersen, Clifton Broumand, Broumand, it's, Tesla, Spencer, Stuart Machin, Steve Lamar, Lamar, Flexport, Katheryn Russ, Davis, Judah Levine, Freightos, Russ, Obama, Carlos Tavares, Stellantis, Jan Hoffmann, Frank Conforti, Conforti Organizations: Galaxy, Houthis Media, Getty, Machine, Hamas, Volvo, Suzuki Motor Corp, American Apparel & Footwear Association, University of California, U.S . Federal Reserve, BMW, Retailer Urban Outfitters, Free People Locations: Iran, Yemen, Anadolu, Greater Landover , Maryland, Taiwan, China, Gaza, Panama, Asia, Europe, United States, Suez, Africa, Ukraine, Belgium, Germany, British, Maryland, Los Angeles, Berlin, Swedish, Ghent, Hungary, Japan, U.S, overcapacity, Red, Israel, India

BANGKOK (AP) — Senior U.S. and Chinese representatives are expected to meet in Bangkok, Thailand as the two countries seek to cool tensions. Officials from both sides said U.S. National Security Adviser Jake Sullivan and Chinese Foreign Minister Wang Yi would meet. Political Cartoons View All 253 ImagesChinese foreign ministry spokesperson Wang Wenbin confirmed that Wang Yi plans to meet with Sullivan. Sullivan, whose visit is scheduled to end Saturday, paid a courtesy call Friday on Prime Minister Srettha Thavisin and later held a bilateral meeting with Foreign Minister Parnpree Bahiddha-Nukara, the Thai foreign ministry said. The Thai foreign ministry announced that Wang Yi will meet with his counterpart on Saturday to sign an agreement exempting Thai nationals from requiring visas to visit China, and on Monday will meet with the prime minister.

Persons: Jake Sullivan, Wang Yi, Adrienne Watson, “, Biden, Xi, Wang Wenbin, Sullivan, Wang, Srettha Thavisin, Parnpree Bahiddha, ” Organizations: — Senior, National, Foreign, Thai, National Security, Foreign Ministry, Washington Locations: BANGKOK, Bangkok, Thailand, Thai, Suez, China, Iran, Beijing, Chinese, North Korea, Washington, Myanmar, Ukraine

☆ Commodity markets are in a 'super squeeze' — and higher prices could be here to stay
▼ + stars: | 2024-01-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +6 min

A commodity "super squeeze" is denoted by higher prices driven by supply constraints more than a robust growth in demand, he explained. "If it's a supply constraint that's driving high commodity prices, it's a very different story for global growth," he told CNBC via Zoom. Higher prices as a result of a super squeeze are "not as positive." The super squeeze could be deeper, or more prolonged if geopolitical, climate change or energy transition related supply disruptions are larger than expected. He highlighted that extreme weather events and geopolitics have also impacted the agricultural and energy commodity baskets.

Persons: Li Xin, Paul Bloxham, Bloxham, Brian Luke S, Dow, HSBC's Bloxham, Ian Waldie, Brian Luke, Matty Zhao Organizations: Technology, Getty, Visual China, HSBC, CNBC, Paul Bloxham HSBC, Energy, Commission, Commodities, Bloomberg, Dow Jones, of America Securities Locations: SUIXI, CHINA, Anhui, Suixi County, Huaibei City, Anhui Province, China, Israel, Gaza, Ukraine, Red, Australia, Asia, Pacific

UNITED NATIONS (AP) — The U.N. trade body sounded an alarm Thursday that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal. Since November, the Iranian-backed Houthis have launched at least 34 attacks on shipping through the waterways leading to the Suez Canal. Total transits through the Panama Canal in December were 36% lower than a year ago, and 62% lower than two years ago, Hoffmann said. Hoffmann said ships transporting liquified natural gas have stopped transiting the Suez Canal altogether because of fears of an attack. “Here you see the global impact of the crisis, as ships are seeking alternative routes, avoiding the Suez and the Panama Canal,” Hoffmann said.

Persons: Jan Hoffmann, Yemen’s Houthi, Hoffmann, Yemen’s, ” Hoffmann Organizations: UNITED NATIONS, United Nations Conference, Trade, UNCTAD, Suez, U.N, Ships Locations: Red, Ukraine, Panama, Suez, Asia, Europe, Iranian, Saudi, Israel, United States, Britain, Geneva, Russia, East Africa, South Asia, Southeast Asia, East Asia, Hope, Africa, Shanghai, U.S

WASHINGTON (AP) — The U.S. and U.K. on Thursday imposed sanctions on four leaders of Yemen's Houthi rebel group who have supported the militant group's recent attacks on vessels in the Red Sea and Gulf of Aden. Houthi leaders Mohamed al-Atifi, Muhammad Fadl Abd al-Nabi, Muhammad Ali al-Qadiri and Muhammad Ahmad al-Talibi are all accused of assisting or sponsoring acts of terrorism, according to U.S. Treasury. The sanctions block access to U.S. property and bank accounts and prevent the targeted people and companies from doing business with Americans. Members of a former rebel group originally from the remote mountains of northwest Yemen, Houthi leaders are generally seen as having few assets within reach of U.S. authorities to be affected by the sanctions. The U.S. and the United Kingdom have launched multiple rounds of airstrikes seeking to stop the attacks.

Persons: Yemen's, Mohamed al, Muhammad Fadl Abd al, Nabi, Muhammad Ali al, Muhammad Ahmad al, Abdel Malek al, Matthew Miller, “, ”, Miller, Houthi, Brian E, Nelson, Thursday's, Ellen Knickmeyer, Jon Gambrell, Jack Jeffrey Organizations: WASHINGTON, U.S . Treasury, Department, U.S . Defense, State, U.S . Navy, Associated Press Locations: U.S, Gulf of Aden, Red, Gaza, Israel, Yemen, Yemeni, Aden, United Kingdom, London

BEIJING (AP) — China, the world’s biggest exporter, says it is deeply concerned about tensions in the Red Sea that have upended global trade by forcing many shippers to avoid the Suez Canal. Political Cartoons View All 253 Images“We are deeply concerned about the recent escalation of the Red Sea situation. The Red Sea is an important international trade route for goods and energy,” Wang said. Some of the world’s largest container shipping companies and oil giant BP have been sending vessels on longer journeys around Africa that bypass the Red Sea. In response to the growing impact on global trade, the United States and a host of other nations have created a new force to protect ships.

Persons: Wang Wenbin, ” Wang, Yemen’s, Israel —, Wang, Good Hope, “, ” Organizations: BEIJING, Foreign, Kiel Institute, Washington, U.S, United Nations Security Locations: China, Suez, Iran, Red, Iranian, Asia, Europe, Sanaa, Saudi, Israel, Gaza, United States, Africa, Good, Drewry, Germany, U.S, Iraq, Syria, Red Sea, Saudi Arabia, East, Beijing, Yemen

☆ Oil prices dip on weak demand, strong dollar
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +3 min

File: A Repsol Oil Operations oil drilling rig pounds into the desert searching through thousands of feet for and oil reserve in El-Sharara, Libya. Oil prices edged lower on Wednesday, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses. Gasoline inventories, however, increased by 7.2 million barrels, stoking concerns over fuel demand in the world's top oil consumer. A stronger U.S. dollar also weighed on oil prices as demand from buyers in other currencies ebbs as they have to pay more for dollar-denominated oil. Elsewhere, U.S.'s third-largest oil-producing state of North Dakota brought some oil output back online after weather-related disruption, the state's pipeline authority said.

Persons: Vikas Dwivedi Organizations: Operations, Brent, . West Texas, American Petroleum Institute, The Energy Information Administration, U.S . Department of Energy, Federal Reserve, Macquarie, U.S, Houthi, Sharara, Jan Locations: El, Sharara, Libya, Russia, Ukraine, Yemen, Britain, U.S, Iran, Red, Iraq, Iraqi, North Dakota

☆ Shipping Costs Soar in Wake of Red Sea Attacks
▼ + stars: | 2024-01-24 | by ( Stanley Reed | ) www.nytimes.com time to read: +1 min

For shipping companies, costs have already increased. A composite measure of global shipping costs, the Drewry World Container Index, has more than doubled since late last year. The rise is partly tied to a shortage of empty shipping containers, caused by the up to two weeks of additional time for trips going around Africa’s Cape of Good Hope. And using the Red Sea now requires expensive war risk insurance. It’s a specialty that a group of brokers and underwriters centered around London offer.

Persons: Good Hope Organizations: Container, underwriters Locations: Red, Suez, Africa, Drewry, Africa’s, Good, London

☆ Iran-backed groups in the Middle East and major US military deployments
▼ + stars: | 2024-01-24 | by ( Nadeen Ebrahim | Abbas Allawati | ) edition.cnn.com time to read: +10 min

The US has attacked Iranian-backed groups in Yemen, Syria and Iraq, while Iran-linked groups have targeted American personnel in Iraq and Syria. The US, having been trying to pivot away from the Middle East for years, finds itself drawn back into the region. And in some places, including Iraq and Syria, the US military presence overlaps that of Iran and its allies. The US has around 13,500 US forces in Kuwait, the largest American military presence in the region. The US this month quietly reached an agreement that extends its military presence for another 10 years at the base.

Persons: Yemen’s, Sayyed Hassan Nasrallah, Harakat, Sayyid, Al, Haq, Asad, Bashar al, Assad, Israel, Ali, Dalton Williams Organizations: UAE CNN, Hamas, Islamic, Navy, Marine Expeditionary Unit, Institute for National Security, Islamic Revolutionary Guard Corps, National Intelligence, Badr Organization, Asad Air Base, Erbil AB, Al, Force, Fatemiyoun, ISIS, Syria Security, Syrian Democratic Forces, Syrian Free Army, CNN, Gaza, US Air Force, Battalion, 163rd Cavalry Regiment, Ali Al Salem Air Base, U.S . Air Force, Washington, United Arab, US, Udeid, Base, Forward Headquarters, Combined Air Operations Centre, Prince Sultan Air Base, UAE, Al Dhafra, Al Dhafra Air Base, Gulf Air Warfare Center, US Naval Forces Central Command Locations: Abu Dhabi, UAE, Israel, Iran, US, Iranian, Yemen, Syria, Iraq, Tehran, Pakistan, Islamic Republic, Washington, Lebanon Lebanon, East, Lebanon, Gaza, Tel Aviv, Iraq Tehran, Baghdad, Al, Erbil, Syria Iran, Syrian, Pakistani, ”, Red, Saudi, Yemen’s, Kuwait, U.S, Palestinian, Arab, Turkey, Saudi Arabia, United Arab Emirates, Germany, Japan, South Korea, Qatar, Doha, Al Dhafra Air, Bahrain, Jordan, Incirlik

☆ Bangkok Bank expects the Thai economy to grow by up to 3%
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBangkok Bank expects the Thai economy to grow by up to 3%Chartsiri Sophonpanich, president of Bangkok Bank, says exports should be "performing better" with the improvement in global trade.

Persons: Sophonpanich Organizations: Bank, Bangkok Bank

☆ As more tankers divert from Suez Canal, there's a 'sea change' in way Europe is buying crude
▼ + stars: | 2024-01-23 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +3 min

Al HUDAYDAH, YEMEN - JULY 17: Yemen's replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. (Photo by Mohammed Hamoud/Getty Images)Energy prices for Europe are expected to increase as more petroleum products and crude tankers are diverting away from the Rea Sea and Suez Canal. They would rather go around the Cape of Good Hope versus taking a chance through the Red Sea." LNG vessels travel faster than oil tankers because they are lighter and they can sail up to 21 knots versus the 12-13 knots for crude tankers. Before the Red Sea disruptions, a tanker from Jamnagar, India to Rotterdam, Netherlands would have taken 24 days.

Persons: Al, Mohammed Hamoud, Rea, Viktor Katona, Good Hope, It's, Katona Organizations: United Nations, Europe, U.S, Good Locations: Al HUDAYDAH, YEMEN, Al Hudaydah, Hudaydah, Yemen, Sana'a, Europe, Suez, Brazil, Africa's, Good, Israel, Jamnagar, India, Rotterdam, Netherlands, Basrah, Iraq, Milazzo, Sicily

☆ UK Issues Statement From 24 Nations on Strikes on Yemen's Houthis
▼ + stars: | 2024-01-23 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

LONDON (Reuters) - Britain said in a joint statement on Tuesday that 24 countries, including the United States, Germany and Australia, conducted additional strikes on Monday against eight targets in Houthi-controlled areas of Yemen. "In response to continued illegal and reckless Houthi attacks against vessels transiting the Red Sea and surrounding waterways, the armed forces of the United States and United Kingdom, with support from Australia, Bahrain, Canada, the Netherlands, and New Zealand, conducted additional strikes against eight targets in Houthi-controlled areas of Yemen," a joint statement issued by the British prime minister's office said. "These strikes were designed to disrupt and degrade the capability of the Houthis to continue their attacks on global trade and innocent mariners from around the world, while avoiding escalation." (Reporting by Farouq Suleiman; Editing by Leslie Adler)

Persons: Farouq Suleiman, Leslie Adler Locations: Britain, United States, Germany, Australia, Houthi, Yemen, United Kingdom, Bahrain, Canada, Netherlands, New Zealand

☆ Widening Mideast Crisis Israel Says 2 Dozen Soldiers Killed as Pressure Grows on Netanyahu
▼ + stars: | 2024-01-23 | by ( Adam Rasgon | Victoria Kim | ) www.nytimes.com time to read: +6 min

Those missiles were hit before they could be fired at ships in the Red Sea or the Gulf of Aden. That changed quickly after the Hamas attacks in Israel on Oct. 7, and the Houthi attacks on commercial ships a month later. U.S. analysts have been rushing to catalog more potential Houthi targets every day, the officials said. That effort yielded many of the targets hit on Jan. 11 and on Monday, officials said. Many Republicans in Congress and some former senior U.S. military officials say the approach is not working.

Persons: Biden, Poseidon Archer, Yahya Sarea, Mr, “, ”, Jon, ” Gen, Kenneth F, McKenzie Jr, ” Vivian Nereim Organizations: Houthi, British, American, Ocean Jazz, White House, Pentagon, U.S, ABC, Republicans, ”, military’s, Command Locations: United States, Britain, Yemen, Iran, Aden, East, Netherlands, Australia, Canada, Bahrain, U.S, Suez, Gaza, American, Gulf, Red, Israel, Riyadh, Saudi Arabia

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