GEOPOLITICAL TENSIONS UAE
India weighs new oil manoeuvre as old routes get jammed
The West Asia war has forced India to look at energy security through a new, different lens. The oil issue, for India, has now gone from being a procurement issue to being a test of economic resilience. That has compelled the govt to rethink how it sources, transports and stores the fuel that powers its economy.
All hands on the deck: Next few months, govt faces a test of political will to take hard economic calls
India is likely to face a host of economic and political pressures due to upcoming elections and external geopolitical factors. Balancing relationships with Iran, the UAE, Saudi Arabia and Israel will be crucial for India's energy security. Political and economic manoeuvres may become necessary to address rising crude oil prices and currency pressures.
Dubai in Transit: The megalopolis is trying to shake off nightmarish war months, but caution remains in the air
Dubai is struggling to regain business momentum eight months after Iranian missile strikes disrupted tourism, real estate and other sectors. While tourist arrivals and hotel occupancy have recovered from their March lows, the recovery has stalled amid renewed regional tensions.
Why is Adani betting $3.4 billion on global energy trade chaos?
Adani Group is reportedly exploring a $3.4 billion acquisition of Dutch energy storage giant VTTI as global oil supply disruptions reshape energy trade. With terminals across 16 countries, VTTI could expand Adani Ports' international footprint, strengthen crude oil storage and logistics capabilities, and unlock opportunities in fuel trading, biofuels, hydrogen infrastructure and global energy supply chains amid geopolitical uncertainty.
Gulf AI buffering, but on-stream
The escalating tensions between the US and Iran have hindered the progress of AI infrastructure development throughout the Gulf. While Gulf nations were eager and ready to invest in innovative AI projects, increasing geopolitical instability has now stalled these efforts. Attacks on tech facilities by Iran have shaken foreign investor trust.
F1's India comeback is gathering speed, but the road to the starting grid is far from clear
Formula 1’s return to Africa has revived hopes of an Indian Grand Prix comeback, with talks involving Formula One Management, the Adani Group and the government gaining momentum. The bigger challenge is not convincing F1 of India’s market potential but fixing the tax, customs and policy problems that drove the race out in 2013, while finding space on an already crowded calendar.
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Who could be the next UN secretary general replacing Antonio Guterres? Here are the top contenders
The race to replace Antonio Guterres as UN secretary-general is becoming increasingly uncertain as candidates face challenges. Significant contenders like Rebeca Grynspan and Rafael Grossi are not securing enough votes from the UN Security Council. Other potential candidates, including Lana Nusseibeh, are being considered but face criticism for their nations' actions. Official nominations include six candidates, four of whom are women, highlighting gender and regional considerations.
Tread carefully on trade: India must hold its ground as Trump’s tariff stick loses its bite
India is navigating complex trade negotiations with the United States, focusing on tariffs and energy imports. Though a trade deal is pending, India prioritizes solid assurances to protect its interests. Indian exports to the US have increased notably, contributing to a reduced trade deficit recently. Additionally, India seeks to maintain stable energy supplies amid fluctuating global oil dynamics.
Mohammed bin Salman faces most consequential test yet as Saudi Arabia comes under Houthi fire
Mohammed bin Salman is currently grappling with increasing Houthi attacks that threaten Saudi infrastructure and international stability. The Crown Prince's appeals for support from the United States have not succeeded in securing intervention. Increased tensions have led to major airlines suspending flights to Saudi Arabia, impacting travel plans. Efforts to forge alliances with Pakistan and Turkey have yielded limited results in countering the Houthi threat.
India's September goods exports rise 23% as imports hit six-month low, narrowing trade deficit
India's goods exports surged by 23% in September, totaling $44.4 billion, supported by significant gains in electronics, petroleum, and engineering goods. At the same time, imports rose by only 8%, leading to a reduced trade deficit of $30.21 billion. This export growth reflects a sustained positive trend in the second quarter of the current fiscal year. Notably, gold imports fell sharply by 81.27%, impacting overall import figures.
Dubai bets $1.4 billion on a new financial district after Gulf war slowdown
Dubai is advancing a significant $1.4 billion real estate project, which includes hotels and office spaces. Although property transactions have been impacted by regional tensions, prices remain relatively stable in the market. H&H Development has begun construction with a workforce of 30,000 on-site, aiming for completion by 2028. Despite lower sales, about 85% of the branded residences have been sold for high prices.
Jaishankar arrives in Abu Dhabi to attend 2nd Raisina Middle East Forum
S Jaishankar arrived in Abu Dhabi for a two-day visit to review the India-UAE Comprehensive Strategic Partnership. He was welcomed by UAE Minister Reem Al Hashimy and expressed his anticipation for discussions. Jaishankar will meet with his UAE counterpart, Sheikh Abdullah bin Zayed Al Nahyan, to focus on strategic cooperation and economic engagement. Additionally, he will participate in the Raisina Middle East Forum addressing regional geopolitical issues.
Festive rush: Airlines hike fuel surcharge as ATF prices soar
Airlines like Air India and Akasa Air have announced increased fuel surcharges for both domestic and international flights. The rise in aviation turbine fuel prices has significantly impacted operational costs for carriers. Domestic surcharges will be effective on new bookings from October 9, as the festive season approaches. International surcharges vary depending on destination, reflecting additional costs incurred by airlines.
Gold rates in UAE today, October 1: Check 24K, 22K, 18K prices in Dubai, Abu Dhabi, Ajman at iGold, Joyalukkas, Malabar Gold & Diamonds
Gold prices are under scrutiny as geopolitical tensions rise amidst the ongoing US-Iran conflict. This article delves into the latest gold rates across key UAE cities, such as Dubai and Abu Dhabi, while providing insights into the market's volatility and impacting factors. Stay informed on the current trends affecting gold investments in the region.
Natural gas defies energy shock as strong supply keeps prices in check
Despite crude oil volatility from West Asian geopolitical tensions, natural gas prices remain contained around $2.50-$3.50/MMBtu. Record US production of 110.6 Bcf/d, strong non-Gulf LNG output, and weak Asian demand have offset Strait of Hormuz supply disruptions, maintaining a mild bearish bias for Henry Hub.
US, UK, China drive India's engineering goods exports in August
Engineering exports increased 24.86% on-year in August to $12.32 billion of which shipments to the US rose 31% to $2.2 billion, and to China were $424.65 million, up 75%.
PhonePe gets in-principle nod from UAE for first locally licensed overseas payments business
Walmart-backed PhonePe has received in-principle approval from the UAE central bank for two payments licences, paving the way for its first locally regulated payments business outside India. The company plans to work with local banks and payment providers and explore the UAE’s domestic payment rails, Aani and Jaywan.
Hormuz shuttles keep oil flowing, but at a high cost
Middle East oil producers are increasingly using ship-to-ship (STS) transfers off Oman to keep crude exports moving despite disruptions from the Iran conflict and risks around the Strait of Hormuz.
Crude Oil Above $100: Can Saudi Arabia’s export disruption trigger a new global energy shock?
Crude oil has crossed $100 a barrel as Saudi Arabia faces disruptions to its alternative export route following attacks on the East-West Pipeline. Prolonged outages could tighten global supplies, raise prices and increase risks for oil-importing economies such as India, while a sustained disruption could push Brent towards $115-$125 a barrel.
Oman hails India's BRICS consensus-building, says it is 'nothing new' for New Delhi
Oman praised India for successfully steering the BRICS grouping towards a joint declaration. New Delhi demonstrated its ability to bring multiple countries together and build consensus. The 11 BRICS nations adopted the New Delhi Declaration on September 12. This declaration covers conflicts, terrorism, trade, and energy security issues. Energy security remains a significant concern for Oman and India.
BRICS 2026: India cracks the code in a divided room with 4 AM talks & diplomatic heavy lifting
Prime Minister Narendra Modi helped broker a unanimous BRICS statement on the Middle East conflict despite sharp differences among members including Iran, Saudi Arabia and the UAE. After negotiations lasting into the early morning, the bloc called for maximum restraint and expressed concern over attacks on civilian and nuclear infrastructure.
Iran and UAE back joint BRICS statement urging restraint in war
Iran and the United Arab Emirates joined a BRICS statement urging Middle East restraint. This move signals diplomatic progress between the two nations after recent conflict escalations. Leaders met on the summit's first day to discuss regional stability and development efforts. The BRICS bloc aims to challenge the existing world order and promote equity. India hosted the summit, focusing on boosting trade and reducing global barriers.
BRICS Summit 2026: PM Modi launches two postage stamps commemorating 20 years of the bloc
Prime Minister Narendra Modi on Saturday announced the unanimous adoption of the New Delhi Declaration 2026 at the BRICS Summit, following intensive negotiations. He also proposed 10 global governance reform measures to form a BRICS Reform Roadmap, covering representation, responsiveness and rule-making, besides suggesting a Seafarers Emergency Support Network.
BRICS joint statement to be issued as member nations reach consensus: Govt sources
BRICS nations achieved a joint statement after intensive negotiations concluded early Saturday. India led sustained consultations to bridge competing positions among member countries. This consensus is significant as Iran, Saudi Arabia, and UAE are members. India's diplomatic efforts ensured differences did not derail the BRICS process. Leaders are attending the summit hosted by India from September 12 to 13.
BRICS has the oil jackpot. Now comes the hard part
BRICS is gaining weight in global energy markets as its 11 members include major oil producers such as Russia, Saudi Arabia, Iran and the UAE, along with major consumers India and China. The grouping accounts for roughly 41-47% of global crude oil production, but differences among members make a common energy policy difficult.
Opportunity for India to reassert its global leadership: South Asia analyst Michael Kugelman on BRICS 2026
South Asia analyst Michael Kugelman said on Saturday that the 18th BRICS Summit offers India, the chair, a pivotal platform to reassert its global leadership and strengthen ties with the Global South amid growing volatility in the international order.
BRICS 2026: India's chairship and Global South's push for 'endless war to end of war'
New Delhi hosts the 18th BRICS Summit amid global conflicts and economic challenges. Developing nations seek this platform to voice concerns and find alternative solutions. The bloc faces internal divisions due to differing geopolitical alignments and national priorities. India aims to facilitate dialogue and steer discussions towards shared Global South objectives. The summit will explore practical solutions for global problems and promote peace and prosperity.
India hosts BRICS summit as Iran war tests bloc unity
India hosts the BRICS Leaders' Summit this weekend seeking to boost its global profile. The summit faces challenges due to the Iran-UAE conflict, which has divided members. Leaders will attempt to find common ground on the Middle East crisis for a joint declaration. Chinese President Xi Jinping and Russian President Vladimir Putin will attend the important meeting. Bilateral discussions between leaders will also focus on economic cooperation and geopolitical issues.
Amitabh Kant lays down three-step formula for India to move forward during BRICS Summit
India must ensure BRICS summit language is progressive and forward-looking. Resolving differences among Iran, UAE, and Saudi Arabia is highly complex. Prime Minister Modi will meet Putin and Xi Jinping for bilateral talks. China-India development, trade, and technology play is critical for progress. Further movement in India-China relations is expected after recent policy changes.
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