Oil prices surge as Saudi-Houthi fighting escalates, adding to risks across the Strait of Hormuz and Red Sea. Brent climbs as Iran and the US brace for a protracted conflict, with Tehran signaling readiness for a long war. Saudi Crown Prince Mohammed bin Salman urged the US to strike the Houthis, but President Donald Trump declined.
In an exclusive interview, UAE Foreign Trade Minister Thani bin Ahmed Al Zeyoudi says the UAE plans to invest €46 billion in Germany, including €10 billion for Bavaria. The countries have signed defense deals, with the UAE offering proven technology to German defense companies. Al Zeyoudi says oil routes are shifting away from Hormuz, the UAE rejects Iranian transit fees, and air-cargo routes are expanding for security.
Global bonds sell off, pushing the 10-year US Treasury yield toward 5%. Australian yields hit their highest since 2011 and Japanese bonds fall on oil and inflation concerns, while Treasury Secretary Scott Bessent dismisses buyback concerns. August US CPI could leave the Fed decision on a razor’s edge as inflation fears drive the global selloff.
Asian stocks decline as oil and inflation worries weigh on markets. Samsung and SK Hynix fall after DeepSeek unveils its Ultra AI model, raising concerns about pressure on HBM demand.
The IAEA confirms activity at Iran’s Pickaxe Mountain. Tehran accuses the US of using the nuclear watchdog to justify strikes and says an IAEA resolution further erodes the non-proliferation regime.
Saudi Arabia’s PIF weighs combining Electronic Arts and Savvy Games Group to create one of the world’s biggest gaming companies. UAE investors add to more than $40 billion invested in Elon Musk-related businesses with a bet on The Boring Company, while Algeria cuts diplomatic ties with the UAE.
BRICS leaders gather in New Delhi amid growing international divisions. Xi Jinping makes his first India visit since 2019 and Vladimir Putin attends the summit, putting India-Russia ties in focus. India balances relations with Russia and the US amid trade uncertainty while resisting the de-dollarization push backed by Russia and China.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:36 – Oil Rallies as Houthi-Saudi Fighting Escalates
00:08:11 – Thani bin Ahmed Al Zeyoudi, UAE Foreign Trade Minister
00:15:01 – Angelina Lai, St. James’s Place Asia & Middle East CIO
00:20:31 – Saudi Arabia Weighs Merger to Create Gaming Giant
00:28:31 – Shira Efron, RAND Distinguished Chair for Israel Policy
00:36:30 – India-Russia Ties in Focus Ahead of BRICS Summit
00:42:43 – August CPI Puts Fed Decision on a Razor’s Edge
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