Yemen Financial News

Dubai-based port operator DP World has reported its half-year profits fell by nearly 60%, in part over the ongoing attacks by Yemen’s Houthi rebels over the Israel-Hamas war that have affected shipping through the Red Sea

A Liberian-flagged oil tanker in the Red Sea has been targeted in a third attack by suspected Yemeni rebels in their campaign of assaults over the Israel-Hamas war

Authorities say four suspected attacks by Yemen’s Houthi rebels targeted a ship in the strategic Bab el-Mandeb Strait linking the Gulf of Aden to the Red Sea

Biden administration has decided to lift a ban on U.S. sales of offensive weapons to Saudi Arabia, the State Department said on Friday, reversing a three-year-old policy to pressure the kingdom to wind down the Yemen war. The State Department was lifting its suspension on certain transfers of air-to-ground munitions to Saudi Arabia, a senior department official confirmed. «We will consider new transfers on a typical case-by-case basis consistent with the Conventional Arms Transfer Policy,» the official said. Reuters was first to report the decision earlier, citing five sources.

Egypt's local currency is sliding against the U.S. dollar after recent increases in fuel prices and subway fares

A missile attack by Yemen’s Houthi rebels struck a container ship traveling through the Gulf of Aden, the first assault by the group since Israeli airstrikes targeted them

Iran and its allies readied their response to the assassination of Hamas's political leader, blamed on Israel, spurring fears of a regional war. Israel ally the United States said it would move warships and fighter jets to the region, while Western governments called on their citizens to leave Lebanon — where the powerful Iran-backed Hezbollah movement is based — and airlines cancelled flights. The killing this week of Hamas leader Ismail Haniyeh in Tehran, hours after the Israeli assassination of Hezbollah's military chief in Beirut, has triggered vows of vengeance from Iran and the so-called «axis of

Gaza Strip, Israel has fought a parallel, slower-paced conflict with Hamas' allies across the Middle East in which all sides have risked major escalation but ultimately avoided dragging the region into a bigger, multi-front war.

Quad Foreign Ministers on Monday condemned the ongoing attacks perpetrated by Yemen's Houthis against international and commercial vessels transiting through the Red Sea and Gulf of Aden.

KIRYAT SHMONA, Israel—On Friday, Israel’s vaunted aerial-defense system tracked 65 rockets fired across its northern border by the Lebanese militant group Hezbollah, intercepting some and letting the rest fall harmlessly into open areas. That same day, Israel missed a single drone it believes flew more than 1,000 miles from Yemen to explode in the commercial capital Tel Aviv. Israel has a problem with drones.

Houthi targets in western Yemen following a fatal drone attack by the rebel group in Tel Aviv the previous day. The Israeli strikes appeared to be the first on Yemeni soil since the Israel-Hamas war began in October, and they threatened to open a new front in the region as Israel battles proxies of Iran. A number of «military targets» were hit in the western port city of Hodeidah, a Houthi stronghold, the Israeli army said, adding that its attack was «in response to the hundreds of attacks carried out against the state of Israel in recent months.»

India is likely to cut the floor price for basmati rice exports and replace the 20% export tax on parboiled rice with a fixed duty on overseas shipments, government sources said, as rice inventories in the country jumped a record high. The world's biggest rice exporter imposed various curbs on exports in 2023 and continued them in 2024 in an effort to keep local prices in check ahead of the general elections held in April-May. New Delhi is expected to lower the basmati rice's minimum export price (MEP) to $800-$850 a metric ton, down from $950 a ton, to boost shipments, said the sources, who didn't wish to be identified as they are not authorised to talk to media.

A suspected attack by Yemen’s Houthi rebels has targeted a ship in the Red Sea

Rolf Habben Jansen said in a call with reporters on Wednesday. Attacks on vessels by Yemen-based Houthi militants have led shipping firms to avoid the Red Sea that connects with the Suez Canal and instead use a longer route around southern Africa, a situation whose end was hard to predict, he said. «We have seen solid demand, particularly since May 1, that meets with limited availability, also because of the Red Sea situation, that's why spot rates are going up,» Habben Jansen said.

A suspected attack by Yemen’s Houthi rebels has targeted a Liberian-flagged tanker in the narrow Bab el-Mandeb Strait

Yemen’s Houthi rebels conducted the largest number of attacks on commercial ships so far in 2024 in June, fresh proof that the group’s threat to trade intensified in recent weeks. There were 16 confirmed attacks on ships in June, according to figures published by the naval forces operating in the region. That’s the most for any single month in 2024, and was only eclipsed in December when more vessels were still sailing through the region. Separate figures published by the Washington Institute show a similar trend. Attacks by the Houthis ramped up in June, having shown signs of diminishing in the preceding months. The incidents included the second confirmed sinking of a vessel, as well as the first successful attack with a seaborne drone. The attacks are helping to contribute to the second-largest increase in a gauge of global sea transport on record as vessels sail thousands of miles extra around Africa.

Yemen’s Houthi rebels likely fired an Iranian-made anti-ship cruise missile at a Norwegian-flagged tanker in the Red Sea in December, an assault that now provides a public, evidence-based link between the ongoing rebel campaign against shipping and Tehran

An attack by Yemen’s Houthi rebels has targeted a ship in the Gulf of Aden

The winner of Iran’s presidential election will inherit domestic discord and an economy battered by sanctions, but also a strength: Tehran has more sway on the international stage than in decades. Iran, under Supreme Leader Ali Khamenei’s leadership, thwarted decades of U.S. pressure and emerged from years of isolation largely by aligning itself with Russia and China, giving up on integration with the West and throwing in its lot with two major powers just as they amped up confrontation with Washington.

the USS Dwight D. Eisenhower after an eight-month deployment in which the aircraft carrier led the American response to the Houthi assaults. Those attacks have reduced shipping drastically through the route crucial to Asian, Middle East and European markets in a campaign the Houthis say will continue as long as the Israel-Hamas war rages in the Gaza Strip.

An Iranian-backed umbrella group known as the Islamic Resistance in Iraq has claimed an attack targeting the southern Israeli port city of Eilat