As tensions simmer in the Gulf, international shipping is bearing the brunt. Weeks after four tankers were sabotaged off the coast of Fujairah in May, two more were attacked in the Gulf of Oman. The US blamed both incursions on the Iranians, who have repeatedly threatened to shut down the Strait of Hormuz, through which a fifth of the world’s oil passes.
In response to rising tensions, British frigates began escorting commercial vessels through the strait – and on Wednesday, Britain's prudence paid off. When three Iranian ships attempted to "impede the passage" of a British oil tanker in Gulf waters, a warship pointed its guns at the boats and issued verbal warnings to disperse them. Coming after Gibraltar seized an Iranian vessel taking oil to Syria in violation of EU sanctions, which triggered threats from Tehran, it is fortunate that this incident ended peacefully.
Nevertheless, we must not underestimate the risk Iran poses to international shipping. If war is to arise, the spark will likely come on the high seas. As a result, the world must come together to de-escalate tensions and protect freedom of navigation in international waters.
Fortunately, while US President Donald Trump escalates his rhetoric to match Tehran's, his military establishment is doing just that. On Wednesday, Gen Joseph Dunford, chairman of the US Joint Chiefs of Staff, asked allies to send ships to the region to safeguard international shipping.
The UAE, for its part, supports a collective, co-ordinated response to protect vessels and counter Iranian threats in the Gulf, as a senior UAE official said this week.
Only a strong coalition can ensure that oil and other commodities flow unhindered. Given the intransigence of Iran and its proxies, it is not a simple task. The Bab Al Mandeb waterway, off the coast of Yemen, is also under threat, having been attacked in the past by Iran-backed Houthi rebels. The coalition must ensure that the Bab Al Mandeb – through which around 4 million barrels of oil pass daily – is also guarded.
It must also support smaller producers in the region, whose economies depend on the flow of oil. This week, Iraqi Prime Minister Adel Abdul Mahdi said hostilities had forced his government to draw up alternative export routes.
Just like its proxies, Tehran says one thing and does another. The harassment of the British vessel coincided with talks between Iran and France in Tehran aimed at saving the flawed 2015 nuclear deal. Similarly, the Gulf of Oman attack last month, in which a Japanese vessel was struck, occurred as Japanese Prime Minister Shinzo Abe was in Tehran.
The only way to deal with Iran is a co-ordinated strategy of de-escalation, containment and deterrence. While no one wants war, the flow of international shipping – central to the global economy – cannot be disrupted. As events this week have shown, friendly nations must come forward to join America’s maritime coalition.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
yallacompare profile
Date of launch: 2014
Founder: Jon Richards, founder and chief executive; Samer Chebab, co-founder and chief operating officer, and Jonathan Rawlings, co-founder and chief financial officer
Based: Media City, Dubai
Sector: Financial services
Size: 120 employees
Investors: 2014: $500,000 in a seed round led by Mulverhill Associates; 2015: $3m in Series A funding led by STC Ventures (managed by Iris Capital), Wamda and Dubai Silicon Oasis Authority; 2019: $8m in Series B funding with the same investors as Series A along with Precinct Partners, Saned and Argo Ventures (the VC arm of multinational insurer Argo Group)
If you go
Flights
Emirates flies from Dubai to Phnom Penh with a stop in Yangon from Dh3,075, and Etihad flies from Abu Dhabi to Phnom Penh with its partner Bangkok Airlines from Dh2,763. These trips take about nine hours each and both include taxes. From there, a road transfer takes at least four hours; airlines including KC Airlines (www.kcairlines.com) offer quick connecting flights from Phnom Penh to Sihanoukville from about $100 (Dh367) return including taxes. Air Asia, Malindo Air and Malaysian Airlines fly direct from Kuala Lumpur to Sihanoukville from $54 each way. Next year, direct flights are due to launch between Bangkok and Sihanoukville, which will cut the journey time by a third.
The stay
Rooms at Alila Villas Koh Russey (www.alilahotels.com/ kohrussey) cost from $385 per night including taxes.
UAE currency: the story behind the money in your pockets
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Messi at the Copa America
2007 – lost 3-0 to Brazil in the final
2011 – lost to Uruguay on penalties in the quarter-finals
2015 – lost to Chile on penalties in the final
2016 – lost to Chile on penalties in the final
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
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The Penguin
Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz
Creator: Lauren LeFranc
Rating: 4/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
