Red Sea

The Iranian-aligned Houthis on Thursday claimed military strikes on two Saudi oil tankers as part of a naval blockade on Saudi Arabia, further raising the risk of a second chokehold on world oil supplies at the Red Sea in coordination with…

A cargo ship came under attack Sunday off the coast of Yemen in the Red Sea, the British military said, the latest maritime attack off the conflict-torn Arab country. The United Kingdom Maritime Trade Operations center reported the…

President vows swift action if Sri Lanka’s economic rights are compromised President Ranil Wickremesinghe has pledged to take action if the economic rights of Sri Lanka are harmed at the Red Sea. He also stated that Sri Lanka would…

Sri Lanka had sent one of its navy ships to to support Operation Prosperity Guardian in the Red Sea, confirmed US Ambassador to Sri Lanka, Julie Chung on Wednesday (28) at an event in Colombo. She was speaking at the Pathfinder Indian…

In August 2022, given that there had been no incident of attacks on merchant shipping off the coast of Somalia since 2018, industries representing various sectors such as shipping, cargo, tanker, and insurance conveyed their position to the…

The International Monetary Fund is now “very confident” the global economy will see a soft landing, its managing director Kristalina Georgieva said on Monday, adding that interest rates would start coming down around mid year. “We are…

For Chinese businessman Han Changming, disruptions to Red Sea freight are threatening the survival of his trading company in the eastern province of Fujian. Han, who exports Chinese-made cars to Africa and imports off-road vehicles from…

The Biden administration is expected to soon announce plans to redesignate Iranian-backed Houthi rebels in Yemen as a specially designated global terrorists, according to two people familiar with the White House decision and a US official.…

Disruptions to Red Sea shipping caused by Houthi attacks will push up prices of consumer goods, an executive from port and freight operator DP World said on Tuesday as a missile struck another vessel in the region. The Iran-allied Houthi…

A Liberian-flagged cargo ship caught fire in the Red Sea on Friday after being hit by a projectile launched from rebel-controlled Yemen, a US defence official and a private intelligence firm said. The attack on the Al Jasrah further…