Yemen Financial News

Also Read: Will the rise in crude oil prices impact the markets in the near term? Moreover, the recent surge in geopolitical tensions has further propelled oil prices upward. Notably, Ukraine's launch of drone attacks on Russian oil refineries, including Lukoil Nizhny, Rosneft Ryazan, and Surgut Kirishi, has caused partial shutdowns.

Yemen Saturday by ballistic missiles fired by H0uthi rebels, who have intensified strikes on Red Sea shipping, the US military said. The Panamanian-flagged, Chinese-owned and operated Huang Pu issued a distress call but did not request assistance, US Central Command (CENTCOM) said in a statement on social media platform X early on Sunday.

₹6,749 per barrel after hitting an intra day high of ₹6,803 per barrel, on the multi commodity exchange (MCX). Also Read: Explained | Upside risk on inflation to export woes—here's how the Red Sea crisis will impact Indian economy in FY25 -Analysts said that successful peace talks would prompt Yemen's Houthi rebels to allow oil tankers to pass through the Red Sea. Blinken met Arab foreign ministers and Egypt's President Abdel Fattah El-Sisi in Cairo as negotiators in Qatar centred on a truce of about six weeks.

Income and wealth inequality in India are at a historical peak with the share of the richest 1% higher than in countries like China and Brazil, finds a new study by the World Inequality Lab. Left unattended, India could slide into a plutocracy, the authors warn. Mint takes a look.

global demand for Indian goods despite the Red Sea crisis, which attracted military response from several countries, impacting trade. Outstanding export credit for Indian banks was seen at Rs 20489 crore at the end of January 26, rising 5% this financial year, data from Reserve Bank of India showed. This was the highest since February last year. «Export growth will be largely driven by global demand and as we do expect global growth to be steady, we can expect a recovery here. This will be reflected also in growth in export credit,» Bank of Baroda chief economist Madan Sabnavis said.

pirates off Somalia's coast shows how India's military has developed special forces capabilities on par with some of the world's best, according to Western analysts. The Indian Navy seized MV Ruen, a former Maltese-flagged bulk carrier, rescued 17 hostages and captured 35 armed pirates in the nearly 40-hour operation around 2,600 km from the Indian coast last week. «The success of the operation marks the Indian Navy as a top-class force in terms of training, command and control and other capabilities,» CNN quoted John Bradford, Council on Foreign Relations International Affairs fellow, as saying. «What marks this operation as impressive is how risk was minimised by using a coordinated force that includes the use of a warship, drones, fixed- and rotary-wing aircraft, and marine commandos,» Bradford said.

A suspected attack by Yemen’s Houthi rebels saw an explosion detonated near a ship in the Gulf of Aden, potentially marking their latest assault on shipping through the crucial waterway leading to the Red Sea

(Reuters) -The U.S. military said it destroyed a drone fired by the Yemeni Houthis on Saturday, with another presumed to have crashed into the Red Sea.

Yemen's Houthi rebels saw an explosive detonate near a ship early Sunday in the Gulf of Aden, potentially marking their latest assault on shipping through the crucial waterway leading to the Red Sea. The British military's United Kingdom Maritime Trade Operations center said the vessel's crew saw the blast as it passed off the coast of Aden, the port city in southern Yemen home to the country's exiled government. «No damage to the vessel has been reported and the crew are reported safe,» UKMTO said.

Brent futures for May delivery were up 24 cents at $82.45 a barrel by 1420 GMT. The April U.S. West Texas Intermediate (WTI) crude contract rose 31 cents at $78.24.

Officials say an attack by Yemen’s Houthi rebels set off explosions ahead of a Singapore-flagged vessel in the Gulf of Aden

Iran-backed Yemeni rebels into the Red Sea and Gulf of Aden on Saturday, the US military said. Shortly afterwards, the rebels claimed the attack, saying they had fired missiles at an «American» commercial ship and launched drones at US warships in «the Red Sea and Gulf of Aden». It was one of the Huthis' largest attacks since they began in November a campaign of drone and missile strikes against vessels in the Red Sea area, vital for world trade, in professed solidarity with Palestinians during Israel's war against Iran-backed Hamas militants in the Gaza Strip.

Yemen's Houthi rebels on Friday set off explosions ahead of a Singapore-flagged vessel in the Gulf of Aden, authorities said. The attack targeted the bulk carrier Propel Fortune, which continued on its way, according to the United States military's Central Command. «The missiles did not impact the vessel,» Central Command said. «There were no injuries or damages reported.» The Houthis did not immediately claim responsibility for the attack. A statement from Houthi military spokesperson Brig. Gen. Yahya Saree was delayed on Friday night over «urgent military developments in the theatre of military operations», according to the rebel-controlled SABA news agency. He was scheduled to speak on Saturday.

US military said that three people have been killed and at least four wounded after a missile fired by Yemen's Houthi rebels hit a bulk carrier in the Gulf of Aden. The Indian Navy also added that critical medical aid was provided to injured crew.

Houthis vow response after airstrikes by US, UK: 'These attacks will not…' Huthi military spokesman Yahya Saree said on social media that the True Confidence was targeted with multiple missiles "after the ship's crew rejected warning messages" from the Huthis. - Months of attacks - The British embassy in Sanaa had earlier said the toll was at least two dead, describing the loss of life as "the sad but inevitable consequence of the Huthis recklessly firing missiles at international shipping." British Foreign Secretary David Cameron meanwhile promised that "we will continue to stand up for freedom of navigation and back our words with actions." US, UK launch second round of strikes on Huthis in Yemen The United States and Britain have since January launched repeated strikes on Huthi targets in Yemen in response to the ship attacks, but the rebels have continued to target merchant vessels.

South Africa has gone back to the United Nations’ top court seeking additional emergency orders for Israel to let more humanitarian aid into the Gaza Strip

Italian lawmakers have approved the country’s participation in an EU naval mission to protect cargo ship in the Red Sea from attacks by Houthi rebels in Yemen threatening maritime traffic

A suspected attack by Yemen’s Houthi rebels on a ship in the Gulf of Aden caused “fatalities” Wednesday

Three cables under the Red Sea that provide global internet and telecommunications have been cut as the waterway remains a target of Yemen’s Houthi rebels

Negotiators taking part in a World Trade Organization meeting in the United Arab Emirates have ended their summit after failing to reach agreements on several major initiatives

CAIRO (Reuters) — The Houthi Transport Ministry in Yemen said on Saturday there had been a «glitch» in undersea communication cables in the Red Sea as a result of actions by U.S. and British naval vessels.