Yemen Financial News

Yemen in response to the Iran-backed rebel group’s attacks on ships in the Red Sea may be limited, a former U.S. diplomat says.Frank Lowenstein, who served as the U.S.

a scrappy insurgency in desolate northern Yemen has managed to put itself in conflict with both the Middle East’s strongest power and the world’s superpower. Early on January 12th American and British warplanes bombed dozens of targets in Yemen. More allied strikes could take place.

Gold prices climbed for a third straight session on Monday, as bullion held onto safe-haven gains from elevated tensions in the Middle East and after U.S. producer prices data last week renewed bets for an early rate cut by the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.3% at $2,054.73 per ounce, as of 0228 GMT, after marking its biggest daily gain since Dec. 12 on Friday. * U.S.

Israel on Sunday, killing two civilians and renewing concerns about the risk of a second front erupting in the Israel-Hamas war. The deadly strike near the border came on the 100th day of the conflict between Israel and Hamas that has killed nearly 24,000 Palestinians, devastated vast swaths of Gaza, driven around 85% of the territory's 2.3 million residents from their homes and pushed a quarter of the population into starvation. The war was triggered by Hamas' Oct. 7 surprise attack into southern Israel in which militants killed some 1,200 people, mostly civilians, and took around 250 hostages, about half of whom are still in captivity. Since then, tensions have soared across the region, with Israel trading fire almost daily with Lebanon's Hezbollah militant group and Iranian-backed militias attacking U.S.

Angel One, Kesoram Industries, PCBL and several other companies will announce their third-quarter results today.The US dollar ebbed on Monday on renewed expectations of a rate cut by the Federal Reserve in March, while the yuan fell to a one-month low after China's central bank surprised markets by keeping its medium-term policy rate steady.The company clocked 13.5% sequential growth in profit at ₹4,350 crore in the December quarter, beating analysts' expectations. Revenue grew 6.7% sequentially to ₹28,446 crore (6% in constant-currency terms).The company reported revenue from IT services of ₹22,150.8 crore in the December quarter, down 1.09% from the previous quarter.

The U.S. military has struck another Houthi-controlled site in Yemen that it had determined was putting commercial vessels in the Red Sea at risk

RBI Monetary Policy Committee (MPC) member Jayanth R Varma said on Sunday. Varma further said he expects a benign outcome in 2024 where inflation comes down and growth remains robust. «The Indian economy has withstood all these shocks (Russia-Ukraine war, Israel-Hamas war, rising oil prices, Houthi attacks) in the last couple of years, and I do not believe that the geopolitical situation will be significantly worse in coming months than what we experienced in the recent past,» he told PTI in an interview.

Gold, reeling under hotter than expected December US CPI inflation data released on Thursday, caught a bid Friday as the US and the UK launched airstrikes on Iran-backed Houthis' targets in Yemen to stop shipping attacks in the Red Sea. In a reaction, the Yemeni Group vowed to retaliate with an urgent response in the form of a move that intends to target all US and UK interests alongside those linked to Israel. The strike by the US and UK, which included more than 70 airstrikes on Yemen targets, risks spreading fallout from Israel-Hamas war, which, in the worst-case scenario, can drag in other regional powers more directly. It is to be noted that earlier in the week, Houthis launched their biggest shipping attacks and Iran seized an oil tanker off the Coast of Oman. The US government has not ruled out more strikes on the Houthis targets.

Maritime Institute of Technology instructor Capt. James Staples, who has personally responded to pirates, breaks down the Houthi Red Sea attacks on 'The Claman Countdown.'

commerce ministry has called a high-level inter-ministerial meeting on January 17 to discuss the way forward on the trade front in the wake of ongoing problems in the Red Sea, a senior official said on Saturday. Senior officials from five ministries — external affairs, defence, shipping and finance (department of financial services) and commerce — will participate in the deliberations. The commerce ministry has also set up an internal strategic group, comprising additional secretaries of the ministry, to discuss global issues impacting the country's trade on a daily basis and prepare a strategy so that India's response can be quick and decisive.

statement on January 11 that at his directions, “US military forces — together with the United Kingdom and with support from Australia, Bahrain, Canada, and the Netherlands — successfully conducted strikes against a number of targets in Yemen used by Houthi rebels to endanger freedom of navigation in one of the world’s most vital waterways." After the US launched strikes against Houthi forces, some US lawmakers accused President Joe Biden of violating the Article 1 of the US Constitution. Congresswoman Pramila Jayapal of the Democratic Party called the strikes an "unacceptable violation of the Constitution". Meanwhile, Rep.

Israel is rejecting allegations levied by South Africa that its campaign against Hamas amounts to genocide against the Palestinian people

Tesla says it’s temporarily halting most of production at its German factory because of attacks in the Red Sea, a vital global shipping corridor

By Jana Choukeir, Ahmed Elimam and Robert Harvey

Joe Biden faced vocal opposition during his visit to Pennsylvania on January 12, with protesters expressing discontent over his support for Israel in its conflict with Hamas in Gaza, NDTV reported. Demonstrators could be heard shouting, "No vote for genocide, Joe," while others referred to the president as a "loser" and urged him to "go home", it said. Sources told the publication that Biden left Pennsylvania without delivering his prepared speech.

By Idrees Ali, Phil Stewart and Mohammed Ghobari

airstrikes in Yemen on Thursday, targeting Houthi rebels. The Yemen authorities have now vowed vendetta, saying “America and Britain will have to prepare to pay a heavy price". The attack by the US and UK on Yemen comes weeks after the Houthi rebels allegedly unleashed disruptive attacks on the Red Sea hurting commercial shipping on the trade route.

By Phil Stewart and Idrees Ali

Mint takes a closer look at the situation. For close to two months, attacks on ships on the vital Red Sea routes have troubled the international community. The Houthis, a rebel group in northern Yemen, have launched these attacks in an effort to punish Israel, a key link along the trade route, for its military offensive in Gaza.

U.S. Secretary of State Antony Blinken on Friday raised concerns over China's human rights issues in a meeting with senior Chinese official Liu Jianchao in Washington, the State Department said, adding they also discussed «maintaining peace and stability» in the Taiwan Strait. WHY IT IS IMPORTANT

struggling group. The energy sector has slumped nearly 3% since late October, a period during which the S&P 500 has surged 16%. The benchmark index rose 24% for all of 2023, while energy fell 4.8%, the second-largest drop last year among S&P 500 sectors. The sector's struggles have continued even as other economically sensitive groups such as banks and small-cap stocks have benefited from investors' growing belief that the economy will be able to navigate a «soft landing» where growth remains stable while inflation subsides. One key reason for the sector's underperformance has been a sharp downturn in oil prices.