War Financial News

Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets «finely balanced». Citi cut its 2024 Brent price forecast by $1 to $74 per barrel and slashed 2025 forecast by $10 to $60 per barrel, but said in a note that recent activity in the Red Sea causing further tension in the Middle East could see near-term upside to the risk premium. The United States and Britain launched strikes from the air and sea against Houthi military targets in Yemen in response to the movement's attacks on ships in the Red Sea, a dramatic regional widening of the Israel-Hamas war in Gaza. Brent crude futures were trading around $79 a barrel at 0337 GMT on Friday, while U.S.

Houthi rebels over their attacks on shipping in the Red Sea pulled the world's focus Friday back on the yearslong war raging in the Arab world's poorest nation, even as shipping across the wider Mideast remains threatened. As the bombing lit the predawn sky over multiple sites held by the Iranian-backed rebels, Saudi Arabia quickly sought to distance itself from the attacks as it seeks to maintain a delicate detente with Iran and a cease-fire in the Yemen war from which it hopes to finally withdraw. Meanwhile, the U.S.

By Sudarshan Varadhan

Houthi movement in Yemen, four U.S. officials told Reuters on Thursday, the first strikes against the Iran-backed group since it started targeting international shipping in the Red Sea late last year. A Houthi official confirmed «raids» across the country, including in the capital Sanaa along with the cities of Saada and Dhamar as well as in Hodeidah governate, calling them «American-Zionist-British aggression.»

Houthi rebels in Yemen amid growing crisis in oil-rich West Asia, thereby escalating a conflict in response to a string of attacks that have disrupted commercial shipping in the Red Sea. Notably, the spill over from the war between Benjamin Netanyahu's Israel and Hamas fighters in Gaza had been flagged repeatedly by US when Tel Aviv began a relentless airstrike campaign in the densely populated Gaza Strip.

Danny Boyle and Alex Garland have officially joined forces for the highly anticipated '28 Years Later.' The package, offering a potential new trilogy, is currently in discussions with studios and streamers. Boyle is set to direct the first installment, with Garland handling the writing duties for all three. Each movie is expected to have a budget in the range of $75 million. Production Speculation

ALSO READ: How the term “genocide" is misused in the Israel-Hamas war “Israel’s response to the October 7 attack has crossed this line and given rise to the breaches of the convention," he added. Responding to this, Israel has dismissed the case as 'atrocious' and 'preposterous'. It has now vowed to set out a robust defense on Friday.

Around this time a year ago, about 85% of economists and market analysts, including me, expected that the US and global economy would suffer a recession. Falling but still-sticky inflation suggested that monetary policy would grow tighter before rapidly easing once the recession hit; stock markets would fall, and bond yields would remain high. Instead, the opposite mostly happened.

By David Lawder

The Economist called it “philanthrocapitalism". Two decades on, however, it has become clear that all this paperwork puts the brakes on giving. The 400 richest Americans have given away just 6% of their combined fortunes, according to Forbes.

MUMBAI : Reserve Bank of India governor Shaktikanta Das said the central bank is waiting for the right time to increase the overseas investment limit for domestic mutual funds, which is currently capped at $7 billion for the entire industry. The RBI governor said although the rupee has stabilized after it was under pressure at the start of the Russia-Ukraine war, RBI is still waiting for the right time to revise the overseas investment limit for mutual funds.

Yemen's Houthi rebels on merchant and commercial vessels in the Red Sea area. The resolution, sponsored by the United States and Japan, says at least two dozen Houthi attacks are impeding global commerce «and undermine navigational rights and freedoms as well as regional peace and security.»

Israeli military said Wednesday it has found evidence that hostages were present in an underground tunnel in the Gaza Strip city of Khan Younis, which has become the focus of Israel's ground offensive. The military showed the tunnel to journalists who were escorted into a neighborhood near the ruins of destroyed homes and streets. A corrugated tin hut covered the tunnel's entrance in a residential yard.

Gaza, as Prime Minister Benjamin Netanyahu publicly rebuffed for the first time calls by some right-wing ministers to permanently occupy the enclave. As Israel's war in Gaza continued to rage, the International Court of Justice in The Hague, also known as the World Court, was to hold hearings on Thursday and Friday in a case brought by South Africa in December claiming Israel's war against Hamas militants in Gaza violates the 1948 Genocide Convention.

Noboa said on Wednesday his country was «at war» with drug gangs who are holding prison guards hostage, amid a dramatic surge in violence that saw gunmen briefly take over a TV live broadcast and explosions in multiple cities. Noboa on Tuesday named 22 gangs as terrorist organizations, making them official military targets. The president took power in November pledging to tackle a growing security problem caused by a rise in drug-trafficking gangs transporting cocaine through Ecuador.

By Steven Scheer

diesel exports to Europe rose 42% year-on-year in December on a combination of winter demand and the near absence of Russian supplies in the continent. India exported 248,000 barrels per day (bpd) of diesel to Europe in December, up from 175,000 bpd in December 2022 and 247,000 bpd in November, according to energy cargo tracker Vortexa. India's overall exports rose 17% year-on-year in December to 637,000 bpd. Europe's share in India's diesel exports was 39% in December, up from 32% in December '22 and 37% in November. India didn't export any diesel to the US in December.

Antony Blinken spoke to President Mahmoud Abbas on Wednesday about reforming the Palestinian self-rule government, as part of US efforts to rally the region behind postwar plans for Gaza that also include concrete steps toward a Palestinian state. Blinken says he has secured commitments from multiple countries in the region to assist with rebuilding and governing Gaza after Israel's war against Hamas, and that wider Israeli-Arab normalization is still possible, but only if there is «a pathway to a Palestinian state.»

Through more than eight years since Justin Trudeau named his first Liberal cabinet on Nov. 4, 2015, Canada’s economic and social trajectory has been steadily downward, a trend that was entirely predictable.  I can say this … because I predicted it.

Prime Minister Narendra Modi on Wednesday inaugurated the 10th Edition of Vibrant Gujarat in state capital Gandhinagar. Several heads of states and top industry captains attended the inauguration ceremony.  Amid high-pitched investments, we spoke with Finland’s Ambassador to India Kimmo Lähdevirta. Since January 1 this year, those who are interested in travelling to Finland and requiring a Schengen visa, will now need to provide details of more funds to qualify.