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Yemen that they have determined was putting commercial vessels in the Red Sea at risk. That's according to two U.S. officials who spoke anonymously to The Associated Press to discuss an operation that hadn't yet been publicly announced.

Red Sea, Raajesh Bhojwani, the Chief Executive Officer (CEO) of RBB Ship Chartering, on Friday said the shipping costs have gone up manifold in the wake of these incidents. RBB Ship Chartering deals in ship chartering services, including dry bulk cargo shipping and various types of vessel charters.

Israel described the allegations leveled by South Africa as hypocritical and said one of the biggest cases ever to come before an international court reflected a world turned upside down. Israeli leaders defend their air and ground offensive in Gaza as a legitimate response to Hamas' Oct. 7 attack, when militants stormed through Israeli communities, killing some 1,200 people and taking around 250 hostage.

Yemen's Houthi forces if they keep up their attacks on shipping in the Red Sea despite dozens of U.S. and British air strikes on the Iran-backed group's facilities. Intensifying concerns about a widening regional conflict, U.S.

Houthi rebels have rerouted most of the trade normally flowing through the crucial maritime artery for consumer goods and energy supplies, a shift that's delaying shipments and raising transport costs. The impact struck home Friday when electric car maker Tesla said it had to shut down its factory outside Berlin from Jan. 29 to Feb. 11 due to delays in supply chains, and as U.S.-led airstrikes hit what the Navy said were Houthi missile and drone launch sites in Yemen.

Hedge fund billionaire Bill Ackman, who recently fought a high-profile battle against Harvard University, said Friday that he's starting an activist organization to fight antisemitism and reform higher education.

From their perch on the eastern side of the Red Sea, the Yemen-based rebels pose what could be one of the biggest threats to global shipping and, by extension, the world economy. In recent weeks, the Houthis have launched over two-dozen drone and missile attacks on commercial shipping bound for the Suez Canal, what they say is a response to Israel’s war against Hamas. Major shippers are now diverting vessels south around the Cape of Good Hope, adding some 40 days to voyages in what could be a far more damaging disruption than when the Ever Given cargo carrier got wedged in the canal in 2021.

British Prime Minister Rishi Sunak said on Friday that the country's joint air strikes with the US against Houthi military targets in Yemen overnight was a «necessary and proportionate action in self-defence.» The US-led strikes are the first against the Houthi militia since it started targeting international shipping in the Red Sea from November 2023. Sunak accused the Iranian-backed group of threatening UK ships as the US Air Force said more than 60 targets at 16 locations used by Houthis in Yemen were struck.

Here’s a timeline of some of the most important news stories. From staff cuts at X to a new AI company, this was another zany year for the billionaire. It has been decades since the very survival of the country has been front and center for Israelis.

Reuters, “In these circumstances, there can hardly be a charge more false and more malevolent than the allegation against Israel of genocide." ALSO, READ: South Africa drags Israel to UN court over Gaza, here are top developments Israel presented a chilling video and audio to a hushed audience to highlight what happened on 7 October when Hamas attacked the country. “They tortured children in front of parents and parents in front of children, burned people, including infants alive, and systematically raped and mutilated scores of women, men and children," Becker said.

Witnesses in Yemen confirmed explosions throughout the country. Brent crude futures were up $3.16, or 4.1%, at $80.57 a barrel at 1124 GMT, while U.S. West Texas Intermediate crude futures climbed $3.05, or 4.2%, to $75.07. Both benchmarks were on course for a second straight weekly rise. The U.S.

EU countries will next week discuss a plan to set up a naval mission to help protect Red Sea shipping following attacks from Yemen's Huthi rebels, diplomats said Friday. The proposal — in the pipeline in Brussels for several weeks — was mooted before US and British forces struck rebel-held Yemen. Any EU effort would seek to complement a US-led coalition, which includes numerous countries from the bloc, already operating in the vital shipping route. The exact details of the size and scope of any EU mission remain to be hammered out and European diplomats said a first discussion would take place in Brussels on Tuesday.

In a statement, Russia's Permanent Mission to the UN said, «Russia has requested an urgent UN Security Council meeting on January 12 in connection with US and UK strikes on Yemen.» In a statement to TASS, the mission said the meeting was scheduled for 10 am (local time) (3 pm GMT) Russia's decision comes after US military forces, along with the United Kingdom and with support from Australia, Bahrain, Canada, and the Netherlands, carried out strikes against a number of targets used by Houthi rebels in Yemen in the early hours of January 12. UK Prime Minister Rishi Sunak has said that the Royal Air Force has conducted targeted strikes against military facilities used by Houthi rebels in Yemen, calling it «limited, necessary and proportionate action in self-defence.» Rishi Sunak said the UK will always stand up for «freedom of navigation and the free flow of trade.» He stated that the Houthis, despite the repeated warnings from the international community, continue to conduct attacks in the Red Sea, including against UK and US warships just this week. In a statement, Rishi Sunak said, «Despite the repeated warnings from the international community, the Houthis have continued to carry out attacks in the Red Sea, including against UK and US warships just this week.» «This cannot stand.

Houthi military positions in Yemen Thursday night in a massive “direct response” to escalating attacks on vessels in the Red Sea, U.S. President Joe Biden confirmed.The move marks a dramatic escalation of a simmering regional conflict in the Middle East sparked by Hamas’ deadly attack on Israel last October and Israel’s responsive offensive on Gaza.Canada joined Australia, Bahrain and the Netherlands in providing support for the strikes, but the extent of that support was not immediately clear.“These targeted strikes are a clear message that the United States and our partners will not tolerate attacks on our personnel or allow hostile actors to imperil freedom of navigation in one of the world’s most critical commercial routes,” Biden said in a statement provided by the White House.“I will not hesitate to direct further measures to protect our people and the free flow of international commerce as necessary.”The strikes targeted Houthi-connected facilities storing the rebel group’s combat drones and ballistic and anti-ship missiles, as well as air defence systems and logistical hubs in Yemen, U.S.

By Stella Qiu

(Reuters) — The United States and Britain launched strikes from the air and sea against Houthi military targets in Yemen in response to the movement's attacks on ships in the Red Sea, a dramatic escalation of the Israel-Hamas war in Gaza.

Investing.com-- Gold prices rose on Friday as an escalation in the Middle East crisis ramped up safe haven demand, which also helped the yellow metal gain despite stronger-than-expected U.S. inflation data.

Houthi spokesperson says targeting of ships heading towards Israel will continue, after United States backed coalition, including United Kingdom, launches heavy airstrikes across Yemen. The Yemen's Houthi spokesperson also said, “No justification for the US-UK attack on Yemen". The attack by the US and UK on Yemen comes weeks after the Houthi rebels allegedly unleashed disruptive attacks on Red Sea hurting commercial shipping on the trade route.

Investing.com-- Oil prices rose sharply in Asian trade on Friday after U.S.-led forces launched airstrikes against the Iran-backed Houthi group in Yemen, ramping up concerns over more disruptions to Middle East supplies.

Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets «finely balanced». Citi cut its 2024 Brent price forecast by $1 to $74 per barrel and slashed 2025 forecast by $10 to $60 per barrel, but said in a note that recent activity in the Red Sea causing further tension in the Middle East could see near-term upside to the risk premium. The United States and Britain launched strikes from the air and sea against Houthi military targets in Yemen in response to the movement's attacks on ships in the Red Sea, a dramatic regional widening of the Israel-Hamas war in Gaza. Brent crude futures were trading around $79 a barrel at 0337 GMT on Friday, while U.S.

Houthi rebels over their attacks on shipping in the Red Sea pulled the world's focus Friday back on the yearslong war raging in the Arab world's poorest nation, even as shipping across the wider Mideast remains threatened. As the bombing lit the predawn sky over multiple sites held by the Iranian-backed rebels, Saudi Arabia quickly sought to distance itself from the attacks as it seeks to maintain a delicate detente with Iran and a cease-fire in the Yemen war from which it hopes to finally withdraw. Meanwhile, the U.S.