Yemen Financial News

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By Natalie Grover

hijacked in the Middle Eastern sea with 25 people on board by Houthi rebels. This disruption is significant as approximately 12 percent of global shipping traffic navigates through the Red Sea and the Suez Canal.

Narendra Modi held a telephonic conversation with his Israeli counterpart Benjamin Netanyahu on Tuesday to discuss the ongoing conflict between Israel and Hamas as well as concerns over the flow of shipping through vital West Asian corridors. “Had a productive exchange of views with PM @netanyahu on the ongoing Israel-Hamas conflict, including shared concerns on the safety of maritime traffic. Highlighted India’s consistent stand in favour of early restoration of peace & stability in the region with continued humanitarian assistance for the affected," Modi tweeted on X, formerly Twitter, a social media website.

Pentagon planners worried about the increasing threat from drones have looked at everything from mesh nets and missiles to cannons and lasers, but now a once highly-classified technology is attracting more attention and funding. High-power microwave devices that can disrupt or even fry the electronics of aerial threats—such as drones and missiles—are moving to the forefront of defense strategies after years of development. In theory, microwave systems offer the ability to keep firing for as long as they have power, which could help take down a swarm of drones.

Heritage Foundation senior fellow Brent Sadler reacts to BP pausing Red Sea oil shipments after Houthi attacks on 'Varney & Co.'

security situation in the Red Sea was deteriorating and ballistic missile and drone attacks were an increased threat, as it agreed for a Royal Navy Destroyer to join a U.S.-led operation to safeguard commerce in the region. The United States said earlier on Tuesday it was setting up a task force of ships to protect shipping in the Red Sea and Gulf of Aden, key trading routes, to protect shipping from the rising number of attacks launched by Houthis in Yemen. The Houthis have stepped up attacks in response to Israel's assault on the Gaza Strip, forcing oil major BP and freight firms including Maersk to avoid the area. Britain's Ministry of Defence (MoD)said on Tuesday that HMS Diamond, which shot down a suspected drone in the Red Sea on Saturday, would join the U.S.-led international taskforce, as it warned of the rising threat levels. «These illegal attacks are an unacceptable threat to the global economy, undermining regional security and are threatening to drive up fuel prices,» Britain's defence minister Grant Shapps said in the statement. «This is an international problem that requires an international solution.» Britain said that alongside HMS Diamond the task force currently includes three U.S. destroyers, and a French warship is in the region.

The attacks on commercial vessels in the Red Sea by Yemen’s Houthi rebels have scared off some of the world’s top shipping companies and oil giants

By Stephanie Kelly and Andrew Hayley

Red Sea and Gulf of Aden to try to safeguard commercial shipping against attacks by Yemen's Houthi rebels, who say they are supporting Palestinians under siege by Israel in the Gaza Strip. A statement on Tuesday by U.S. Defense Secretary Lloyd Austin, on a visit to Bahrain, identified several countries taking part in an international force.

By Jonathan Saul

By Ahmad Ghaddar

By Alex Lawler

The press is reporting that the Biden Administration is contemplating the use of military force in response to continuing attacks on commercial shipping by the Houthi militia in Yemen. It’s about time. The Houthi missile attacks pose the most significant threat to global shipping in decades, and they will continue unless a global coalition unites to stop them.

Israeli hostage abducted from music festival found ‘murdered in captivity’ In 2022, the Gonjeshke Darande group hacked a major steel company in the southwest of the country. A cyberattack on Iran’s fuel distribution system in 2021 paralyzed gas stations across the country, leading to long lines of angry motorists. The hacking group claimed responsibility for the attack on fuel pumps.

Oil prices rose nearly 1% in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption. Brent crude futures climbed 69 cents, or 0.9%, to $77.24 a barrel by 0037 GMT, while U.S. West Texas Intermediate crude was at $72.08 a barrel, up 65 cents, or 0.9%. «The bad weather in Russia has played a part in the stronger open this morning as has the Houthis attack on ships close to Yemen,» IG analyst Tony Sycamore said. Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or more, earlier than promised, as the world's biggest exporters try to support global oil prices. This comes after Moscow suspended about two-thirds of loadings of its main export grade Urals crude from ports due to a storm and scheduled maintenance on Friday. Shipping firms, including the world's biggest container shipping lines MSC and A.P.

we win, you know what's gonna happen. People are gonna flood out of the country. They're gonna flood out before we even do anything," Trump said.

Houthis, in order to re-establish free passage. Bab al-Mandab is a narrow strait between Africa and the Arabian Peninsula through which an estimated 12% of global trade by volume normally flows, and perhaps 30% of global container traffic. It has become a no-go zone as the Houthis, based in Yemen, attack shipping, ostensibly in support of the Palestinians in Gaza.

A ballistic missile fired by Yemen’s Houthi rebels has slammed into a cargo ship in the Red Sea near the strategic Bab el-Mandeb Strait

The U.S. military says an American warship shot down 14 suspected attack drones over the Red Sea on Saturday

Vladimir Putin condemned Israel's incessant bombing of Palestine's Gaza Strip, he also promised to intensify the offensive in Ukraine that started over a year ago. Ukraine's increased commination comes at a time when the United States is struggling to send aid ahead of their Presidential Polls in 2024. Meanwhile, despite the United Nations Security Council's resolution demanding an immediate ceasefire in Gaza, Israel's Prime Minister Benjamin Netanyahu has vowed to continue bombing the densely populated Gaza Strip ‘with or without international support’.