Yemen Financial News

By Kanishka Singh

extremely severe cyclonic storm on Sunday and is headed towards the Yemen-Oman coasts, the India Meteorological Department (IMD) said. The cyclonic storm is predicted to move northwestwards and cross the Yemen-Oman coasts between Al Ghaidah (Yemen) and Salalah (Oman), close to the east of Al Ghaidah around noon on October 24 as a very severe cyclonic storm with wind speeds of 115-125 kmph, gusting to 140 kmph, it said.

Middle East, which has created significant uncertainty in financial markets. The week began with a slight dip in COMEX gold prices, but a remarkable one-sided rally ensued.

Cyclone 'Tej' brewing over the south-west of the Arabian Sea is very likely to intensify into an extremely severe cyclonic storm in the forenoon of Sunday morning, the India Meteorological Department has said. «VSCS (very severe cyclonic storm) Tej lay centred at 2330 IST on October Oct 21 over SW Arabian Sea, about 330 km ESE of Socotra (Yemen), 690 km SSE of Salalah (Oman), and 720 km SE of Al Ghaidah (Yemen).

Read all the latest updates on Cyclone Tej at Mint's LIVE blogIn 2022, no tropical storm was formed over the Arabian Sea during the post-monsoon season, while the Bay of Bengal witnessed two tropical storms -- Sitrang and Mandous.Cyclones in the Arabian Sea have a history of uncertain tracks and timelines, according to Skymet Weather.Once the cyclones are over the central parts of the Arabian Sea, their preferred track is towards Somalia, the Gulf of Aden, Yemen, and Oman. However, on a few occasions, these cyclones take a detour and head towards the Gujarat and Pakistan coastline, Skymet said.Cyclone Tej will be followed by the Iran-named Cyclone Hamoon – whenever it may occur.

₹7,357 per bbl, having swung between ₹7,317 and ₹7,474 per bbl during the session so far, against a previous close of ₹7,330 per barrel. Also Read: Indian crude basket to average $87/bbl, OMCs to bear the brunt as oil surges 6% over Israel-Hamas war -Supporting oil prices were wide forecasts of a tightening market in the fourth quarter after top producers Saudi Arabia and Russia extended supply cuts of around 1.3 million barrels per day (bpd) till the end of the year.

PTI, the IMD had previously reported that a low-pressure area in the southeast and southwest Arabian Sea has progressed into a depression and is projected to strengthen into a cyclonic storm by the morning of October 21. Following the naming conventions for cyclones in the Indian Ocean Region, this specific storm is set to be designated as 'Tej.' According to the IMD, the forecast suggests that this storm is expected to strengthen into a severe cyclonic storm by Sunday and progress in the direction of the southern coastlines of Oman and the nearby regions of Yemen. Nevertheless, it's important to note that cyclones can occasionally alter their trajectory.

Israel Thursday and American bases in Iraq and Syria were repeatedly targeted by drone attacks.The USS Carney, a Navy destroyer in the northern Red Sea, intercepted three land attack cruise missiles and several drones that were launched by Houthi forces in Yemen. The action by the Carney potentially represented the first shots by the U.S. military in the defense of Israel in this conflict.Brig.

Oil prices extended gains on Friday, rising about 1% on fears that the Israel-Gaza conflict may spread in the Middle East and disrupt supplies from one of the world's top-producing regions. Brent crude futures climbed 77 cents, or 0.8%, to $93.15 a barrel by 0042 GMT. U.S.

Asian shares plumbed a fresh 11-month trough on Friday as fears of a regional conflict in the Middle East intensified and as a relentless rise in long-term U.S. yields pressured valuations, while supply concerns lifted oil prices further. The surge in the 10-year U.S.

US Navy ship in the Red Sea on Thursday shot down missiles and drones that had been fired by Iran-backed Huthi rebels in Yemen, possibly at Israel, the Pentagon said. Three «land-attack cruise missiles and several drones» were intercepted by a destroyer, Pentagon spokesman Brigadier General Pat Ryder told reporters.

weather changes in Maharashtra city due to a possible cyclonic storm that is expected to develop in the Arabian Sea. The IMD’s weather update on Monday outlined that a low-pressure area is likely to develop over the southeast and adjoining east-central Arabian Sea in the next 48 hours. October to December is among the favorable periods for the development of cyclones in the Bay of Bengal and the Arabian Sea due to warmer ocean temperatures.

PTI citing an official at the IMD, a cyclonic circulation over the southeast Arabian Sea and the adjoining Lakshadweep region has been seen. Due to which a low-pressure area is likely to be formed over the same region. At present, the probability of the system intensifying into a cyclonic storm is not notably high.

World Cup qualifying game for the first time on Tuesday, beating Cambodia 1-0 in Islamabad to advance to the second round. After the first leg in Phnom Penh finished 0-0, a half-volley from Harun Hamid was enough to secure victory at Jinnah Sports Stadium in a first home game for Pakistan since 2015.

head towards the southern part of the region, between 10 am and 1 pm local time. Once the deadline exhausted, the IDF warned that it would “implement a wide range of offensive operative plans" in the region to target the Hamas militants. - The ground invasion, which would reportedly involve 10,000 soldiers along with aerial and naval forces, will be set off following “a political decision", military spokesmen Lieutenant Richard Hecht and Daniel Hagari said in a press briefing.

President Biden on Tuesday showed appropriate outrage at the wanton slaughter by Hamas this weekend, and his pledge of support for Israel is welcome. But there was a crucial word missing from his remarks at the White House: Iran. Tehran is Hamas’s terror master, and its assault on Israel exposes the failure of his Iran strategy.

Israel-Hamas war dragged on to the sixth day, many countries, including India, are making arrangements to repatriate their citizens from Israel. In a show of solidarity, US Secretary of State has arrived in Israel.

Iran on Tuesday claimed that it played no role in the attack launched by Hamas last Saturday that took Israelis by surprise but there is no denying the fact that Tehran over the years has increased its support and appeal across the Arab world that is dominated by people who profess Sunni sect of Islam. The world's biggest non-Sunni country has become a key factor in the West Asian fault lines creating its proxy groups in Lebanon and Yemen and backing Hamas to take on Israel over the last few decades. It is no secret that Tehran has exploited sentiments and presence of the Shia population in some Gulf states. While the USA and Israel have not yet directly blamed Iran for the October 7 carnage, Tehran came out openly in support of Hamas for carrying out the attacks against Israel.

India will cut the floor price for basmati rice exports in the coming days, sources familiar with the matter said, after millers and traders complained about a sharp drop in overseas sales of the premium aromatic grain. India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the sources, who didn't wish to be identified as they are not authorised to talk to media. Last month, India fixed the floor price, or the minimum export price (MEP), for basmati rice shipments at $1,200 a metric ton. Authorities said the MEP was imposed to help New Delhi ensure that non-basmati rice was not exported as basmati rice. In July, India surprised buyers by imposing a ban on the export of widely consumed non-basmati white rice, following a ban on broken rice exports last year. «The decision to lower the basmati MEP would help farmers who were losing money on account of falling exports,» said Prem Garg, president of the Indian Rice Exporters Federation. «The move will also help India retain its pre-eminent position in the global basmati rice market.» Since basmati rice is not widely consumed in India, and the new season crop will start arriving in the market from next month, India would have faced a glut of the superior grade, Garg said. «A large stockpile would have hammered prices and hurt farmers and India's rice sector, so the move to lower the MEP will be quite helpful,» he said. India and Pakistan exclusively grow premium, aromatic basmati rice.

Berkeley Earth, which focuses on environmental data science and analysis, said last month was the warmest August since records began to be kept in 1850, with «particularly warm conditions» prevailing in parts of India, Japan, North Atlantic, Eastern Equatorial Pacific, Northern South America, Central America, parts of Africa and the Middle East. The National Oceanic and Atmospheric Administration (NOAA), a US government agency, said on Thursday that 2023 witnessed Earth's hottest August in its 174-year climate record. The sizzling month also marked the northern hemisphere's warmest meteorological summer and the southern hemisphere's warmest meteorological winter on record, the NOAA's National Centres for Environmental Information said. Berkeley Earth said August 2023 exceeded the previous record set in August 2016 by 0.31 degrees Celsius, «a surprisingly large margin, well outside the margin of uncertainty». Its researchers said: «We estimate that 13 per cent of the Earth's surface experienced its locally warmest August average, and 87 per cent of the Earth's surface was significantly warmer when compared to its local average during the period from 1951 to 1980.» In total, they estimated that 65 countries (mostly in the tropics) witnessed their warmest August on record. These countries include Bahrain, Barbados, Brazil, Cambodia, Cameroon, Chad, China, Colombia, Cuba, Iran, Iraq, Japan, Kenya, Mexico, Morocco, Niger, Panama, Peru, the Philippines, Qatar, Russia, Rwanda, Saudi Arabia, Sri Lanka, Sudan, Suriname, Turkiye, Venezuela and Yemen. Some of these countries broke their August records by extraordinary margins.

HRW) said on Monday. In a 73-page report, the rights group said Saudi guards used explosive weapons to kill some migrants and shot at others from close range. It compiled testimony from 38 Ethiopians who tried to cross the Yemen-Saudi border between March 2022 and June 2023, as well as four relatives or friends of migrants. Human Rights Watch said attacks against groups of migrants, who used remote mountain tracks to cross into Saudi Arabia by foot, were «widespread and systematic» and that the «killings are continuing». A Saudi official, who did not provide their name, said on Monday in an emailed response to questions to the government's media office that HRW's allegations were «unfounded and not based on reliable sources.» Saudi authorities have also strongly denied allegations made by U.N.