Chinese tech giant Huawei said on Monday it had developed a new way of making semiconductors that could get around its U.S.-enforced lack of access to the most advanced chipmaking equipment. Huawei has in recent years been at the centre of a geopolitical standoff after Washington warned its
World Tarot Day 2026: The most misunderstood tarot cards and what they actually meanPeople tarot as entertainment or fear it because of the dramatic social media readings. But tarot was never meant to work through fear; it is a symbolic tool. Updated on: May 25
From mirrors to mood lighting, these 5 budget-friendly decor tricks can make small homes look surprisingly luxuriousWant to upgrade your home into a luxurious space? Here are some budget-friendly decor ideas you can consider for a beautiful home. Published on: May 25
A Bahraini court sentenced nine defendants to life in prison and two others to three years in jail for collaborating with Iran’s Revolutionary Guard Corps (IRGC) to carry out what it described as “hostile and terrorist acts” against Bahrain
Tarot vs Astrology: Which one can predict your future better? An expert breaks it downAstrology explains cosmic timing and patterns. Tarot explains your emotional experience of those patterns. One gives you the map, the other acts like a mirror. Updated on: May 25
Iran War Could Push Qatar, Kuwait Into Worst Economic Slump Since 1990s Gulf War: Report
Iran War Could Push Qatar, Kuwait Into Worst Economic Slump Since 1990s Gulf War: Report
The ongoing conflict involving Iran threatens to inflict significant economic damage on several Gulf economies if hostilities persist, with countries heavily dependent on energy exports facing the greatest risk.
According to a Bloomberg report citing Goldman Sachs economist Farouk Soussa, Qatar and Kuwait could see their gross domestic product (GDP) contract by as much as 14% this year if the conflict continues until April and results in a two-month disruption to traffic through the Strait of Hormuz.
Such a downturn would mark the worst economic slump for the two countries since the early 1990s, when Iraq’s invasion of Kuwait triggered the Gulf War and caused turmoil in global oil markets.
Saudi Arabia and the United Arab Emirates are expected to fare relatively better because they have the ability to reroute some oil exports through alternative routes that bypass the Strait of Hormuz. However, even these economies could face a sharp slowdown. Economists estimate Saudi Arabia’s GDP could decline by around 3%, while the UAE’s economy could shrink by about 5%, representing their biggest economic hit since the COVID-19 pandemic in 2020.
“For many Gulf economies, the war could have a bigger near-term impact than Covid-19," Soussa, Goldman Sachs’ economist for the Middle East and North Africa, told Bloomberg. “When the dust settles, they will rebuild and they will recover, but the scars this conflict leaves on confidence remain to be seen."
The conflict has created a challenging scenario for Gulf economies, which risk being hit simultaneously in both oil and non-oil sectors. While disruptions to energy exports threaten government revenues, sectors such as tourism, real estate and investment may also suffer due to heightened geopolitical uncertainty.
The war entered its third week with little sign of easing, as Iran continued to strike neighbouring countries in response to US and Israeli attacks on its territory. Over the weekend, the United States targeted military installations linked to Iran’s crude export hub on Kharg Island and warned that energy infrastructure could be attacked if Tehran continues disrupting shipping in the Strait of Hormuz.
The waterway is one of the world’s most critical oil transit routes, handling roughly one-fifth of global oil exports. Supply disruptions have already pushed global crude prices higher, with Brent crude rising above $103 per barrel on March 13 amid shipping disruptions and output cuts in countries such as Saudi Arabia and the UAE.
Global gas markets have also been affected, with Qatar’s liquefied natural gas (LNG) exports declining sharply due to the shipping halt. Bahrain has also begun cutting output at the world’s largest aluminium smelter, partly due to supply disruptions linked to the Hormuz situation.
According to economists, Qatar, Kuwait and Bahrain could suffer the most if disruptions persist, given their reliance on energy exports moving through the Strait of Hormuz.
By contrast, Saudi Arabia and the UAE may benefit partially from higher oil prices and their ability to export crude through alternative pipelines and routes, economists including Mohamed Abu Basha of EFG Hermes and Justin Alexander of Khalij Economics told Bloomberg.
Saudi Arabia may emerge as the most resilient economy if the conflict drags on, several economists said, as the kingdom has managed to intercept most incoming Iranian attacks while maintaining largely normal economic activity, with airspace and businesses continuing to operate.
However, the war could still widen the country’s fiscal deficit in the short term due to revenue volatility. Analysts at Abu Dhabi Commercial Bank and Oxford Economics expect Saudi Arabia to face a deeper fiscal shortfall in the first quarter of the year.
Despite that, some economists believe the kingdom’s fiscal position could improve over the full year if oil prices remain elevated. Tim Callen, a visiting scholar at the Arab Gulf States Institute in Washington, told Bloomberg that Saudi Arabia’s budget deficit could narrow by about 1% if oil production averages around 7.5 million barrels per day and Brent crude remains near $90 per barrel.
Saudi Arabia had earlier projected a fiscal deficit of 3.3% of GDP for 2026.
Elsewhere in the region, the UAE is still expected to record a budget surplus this year, while Qatar’s fiscal deficit could widen if disruptions persist, according to EFG Hermes.
Economists also said Gulf countries may increasingly rely on debt markets to manage fiscal pressure. However, bond investors have so far shown limited concern about the war’s potential impact on the region’s finances.
“It’d be a concern if the conflict simmers on for a prolonged period, which is not what is currently priced into the market," Fady Gendy, a portfolio manager at Arqaam Capital, told Bloomberg.
Source: News18
Related Posts: South Africa inflict record defeat on New Zealand Singer D4vd had 'significant amount' of child sex abuse images when arrested Significant Setback DPDP Rules Mark Significant Milestone In India's Data Protection Journey Punjab CM Mann showing significant improvement H-1B visa signups for 2026 see significant drop Two other South Asians win significant political races in the US too Hamas response to US Gaza plan is significant - but there are key omissions What makes Republic Day parade significant this year G20 risk watchdog warns of 'significant gaps' in global crypto rules
The National Testing Agency (NTA) has postponed the Common University Entrance Test Undergraduate (CUET-UG) 2026 examinations scheduled for May 28 in both shifts following a change in the Bakrid holiday date. The agency said revised examination dates for the affected candidates will be announced
1 days ago
President Nikos Christodoulides present, Cyprus positions itself as Europe gateway for HT Labs, other Indian AI firmsRepresenting HT Labs, the innovation and technology arm of HT Media Group, Avinash Mudaliar, Co-Founder and CEO, participated in discussions. Updated on: May 25
1 days ago
The Delhi Gymkhana Club has moved the High Court against the Union government’s order directing it to hand over its 27.3-acre premises by June 5, Live Law reported on Monday. The matter was mentioned before Justice Avneesh Jhingan on Monday by advocate Abhishek Manu Singhvi
1 days ago
Strains of the old "Glory, Glory" anthem echoed inside the giant stadium as Tottenham Hotspur stepped back from the precipice of the most humiliating relegation in Premier League history. Spurs players and supporters were in unison at last as they could finally look forward to next season as a
1 days ago
Australian cricketer Megan Schutt will conclude her international career after the 2026 T20 World Cup. The seasoned bowler aims for a strong finish in her final major ICC campaign. Schutt, a veteran of many successful tournaments, wants to pass the baton to the next generation of players
1 days ago
The Japanese fruit ‘sando’ is becoming India’s favourite summer dessert; take a look With fluffy milk bread, clouds of whipped cream, and jewel-like slices of fresh fruit tucked inside, the Japanese sando has become India’s go-to dessert Updated on: May 25
1 days ago
Madhuri Dixit serves ‘a little bit of drama’ as she gives classic white saree a modern twist with chic jacketMadhuri Dixit proves age is just a number as she stuns in ivory saree with floral prints, layered with a sleek jacket, blending elegance with modern drama. Published on: May 25
1 days ago
Stolen Baby: The Murder of Heidi Broussard: Where is slain mom's family now? What to know as crime drama streamsThe release of Stolen Baby: The Murder of Heidi Broussard on Netflix has brought the 2019 murder case in focus again. Know where the slain mom's family is. May 25, 2026
1 days ago
Crude oil prices plunge after US and Iran have shared significant signals on the progress in talks to end the war, however both sides are still at loggerheads on certain issues. Global oil prices have plunged over 5.5% after US and Iran have indicated that there is significant progress in their
1 days ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.From office work to AI tasks: The best Asus ExpertBook P3 and Snapdragon PCs to consider in 2026AI laptops are everywhere in 2026, but only a few actually improve daily work
1 days ago
LeBron James has spent more than two decades rewriting NBA history. On Sunday, though, one of his most remarkable streaks finally came to an end. For the first time since his rookie season in 2003-04, the Los Angeles Lakers superstar was not named to an All-NBA team
1 days ago
Priyadarshan on Paresh Rawal's exit from Hera Pheri 3: ‘Not aware’Hera Pheri 3 faces turbulence as Paresh Rawal reportedly leaves the film, returning his signing fee. May 25, 2026, 13:38:45 IST Written by Vibha Maru Share via Copy link The controversy around Hera Pheri 3 doesn’t seem to end
1 days ago
BJD Rajya Sabha MP Debashish Samantaray has resigned from the party. He cited systematic belittlement as the reason for his departure. This follows similar exits by other Rajya Sabha MPs. Samantaray expressed gratitude to party chief Naveen Patnaik for past opportunities
1 days ago
Prashant Kishor to finally contest an election himself? Jan Suraaj Party targets Bankipur, via an ashramKishor is bullish on Bankipur, and claimed that only the Jan Suraaj Party can defeat the BJP there. "We just need to field a strong candidate," he said. Updated on: May 25
1 days ago
It’s been almost five months since Ranveer Singh’s exit from Don 3 sparked controversy. Now, as the dispute between Farhan Akhtar and the actor continues, the Federation of Western India Cine Employees (FWICE) has finally intervened, announcing that its decision on the matter will be revealed
1 days ago
Even George Russell’s biggest critics would probably admit one thing right now: the Briton’s luck this season has been brutal. And standing beside his stricken Mercedes in Montreal on Sunday night, Russell looked completely drained by it all. After opening the season with victory in Shanghai
1 days ago
Turn a classic, creamy tiramisu into a refreshing summer treat by swapping coffee for juicy mango and layering it with fresh fruit and light mascarpone cream. This mango‑infused version keeps the dessert’s rich, custard‑like texture but adds a bright
1 days ago
As Cannes Film Festival closes, which are the acclaimed films from this year's crop that could be heading for Academy Award nominations? If you want to know which films are going to be nominated for Oscars, it's worth looking at what premiered at the Cannes Film Festival the previous May
1 days ago
Delhi Capitals' IPL journey concluded with a sixth-place finish. Coach Hemang Badani cited inconsistent play and missed opportunities as reasons for the team's failure to reach the playoffs. Crucial losses, dropped catches, and batting collapses hampered their campaign
1 days ago
3 elephant calves die within 17 days in Chhattisgarh’s DharamjaigarhEight elephant calves have died in Dharamjaigarh forest division over the past five months due to drowning, getting trapped in marshland, etc Published on: May 25, 2026 1:27 PM IST By Ritesh Mishra Share via Copy link Three
1 days ago
The Canadian Grand Prix was the race in which the Formula 1 title battle finally came alive this year. It was also, however, the race in which it took a potentially decisive turn, putting a huge dent in George Russell's hopes of beating his 19-year-old Mercedes team-mate Kimi Antonelli to the
1 days ago
CBSE Class 12 answer sheet scanned copies application window ends today, direct link hereCBSE Class 12 answer sheet scanned copies application window will close today, May 25, 2026. The direct link to apply is given here. Published on: May 25
1 days ago
Microsoft techie couple in Noida breaks down ₹1.6 lakh monthly expenses, says city feels balanced despite rising costsA Microsoft couple in Noida revealed they spent around ₹1.6 lakh monthly while balancing work, lifestyle and family needs. Published on: May 25
1 days ago
A CBSE Class 12 student has raised serious concerns over the board’s re-evaluation process after claiming the Physics answer sheet uploaded under his roll number does not belong to him. The student shared comparisons of multiple answer sheets and demanded an urgent investigation into the alleged
1 days ago
Thyroid disorder cases have been gradually rising over the past few years, especially in younger adults and the younger working generations. Even though genes and autoimmune disorders play a role, the way we live our lives is becoming a reason for thyroid problems. We speak to Dr Aravind Badiger
1 days ago
Sandhu finishes T-63, Sterne wins after gap of 13 yearsSandhu finishes T-63, Sterne wins after gap of 13 years Published on: May 25, 2026 1:47 PM IST PTI Share via Copy link Rinkven , Indian golfer Yuvraj Sandhu endured a difficult final day to finish T-63 at the Soudal Open here
1 days ago
Cardiologist reveals the real cause of heart attacks that most people overlook and it’s not just ‘bad cholesterol’Could your gut health be affecting your heart? A cardiologist explains how inflammation, poor sleep, stress, and unhealthy habits may raise heart attack risk. Published on: May 25
1 days ago
