Following business and economy news from the Middle East

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Last update: 3 hours ago

Saudi-Iran Escalation: Reuters reports Saudi Arabia carried out secret strikes on Iranian territory in late March 2026—its first known direct attack on Iran—after missile/drone attacks on Saudi soil, with strikes later easing as diplomacy moved alongside the pressure. Hormuz & Oil Shock: Markets are still trading the Iran-war risk, with oil holding firm and gold steady as investors watch the Trump–Xi summit for any Iran de-escalation signals. Iran’s Internet Divide: Iran’s near-total blackout is easing for some users only, via a “Pro Internet” service that’s drawing public backlash over unequal access. Shipping Sanctions Pressure: Malaysia says Iranian-linked tankers exploit “jurisdictional gaps” for ship-to-ship transfers near its waters, rejecting claims of inaction as the shadow-fleet trade continues. BRICS Diplomacy: BRICS foreign ministers meet in India as Iran war, energy prices and currency-localization plans test unity. Business & Markets: India’s Sensex and Nifty rose early on optimism around the US-China summit; Wizz Air expects a summer revenue lift despite the Iran-war drag. Egypt Finance: Egypt signed a $1.5bn loan with ITFC to back food and energy security.

Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result.

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