The Hindu
Iran-Israel war LIVE: UAE’s image as West Asian haven tested by Iran war
Live Iran-Israel war LIVE: UAE’s image as West Asian haven tested by Iran war Iran's Islamic Revolutionary Guard Corps said internet fibre optic cables passing through the Strait of Hormuz could be brought under a system of permits…
Iran-Israel war LIVE: UAE’s image as West Asian haven tested by Iran war
Iran’s Islamic Revolutionary Guard Corps said internet fibre optic cables passing through the Strait of Hormuz could be brought under a system of permits as Tehran tightens control over the waterway.
Updated – May 19, 2026 01:26 pm IST
U.S. President Donald Trump said he was planning a major new assault on Iran on Tuesday, May 19, 2026, but held off as he saw hope for securing a so far elusive agreement to end the war.
| Photo Credit:
AP
The United Arab Emirates for decades has advertised itself as a haven for international business in West Asia awash in violent upheaval. Those waves have now crashed into this nation, testing its economic model like never before.
The UAE, a close ally of the United States and Israel, faced more missile and drone attacks from Iran during the war than any other country.
Also read: Iran submits new proposal, says U.S. open to sanctions relief
The attacks — and Iran’s chokehold on the Strait of Hormuz — have more than halved the Emirates’ exports of crude oil and natural gas. Its tourism and conference sectors have also suffered.
U.S. President Donald Trump said he was planning a major new assault on Iran on Tuesday (May 19, 2026), but held off as he saw hope for securing a so far elusive agreement to end the war. Mr. Trump, who had indefinitely extended the truce and made clear he wants to exit a war that has proven to be a political liability, said he had prepared a new attack for Tuesday (May 19) after Iran refused his outlines of a deal.
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- May 19, 2026 13:21 UAE’s image as West Asian haven tested by Iran war
The United Arab Emirates for decades has advertised itself as a haven for international business in West Asia awash in violent upheaval. Those waves have now crashed into this nation, testing its economic model like never before.
The UAE, a close ally of the United States and Israel, faced more missile and drone attacks from Iran during the war than any other country.
The attacks — and Iran’s chokehold on the Strait of Hormuz — have more than halved the Emirates’ exports of crude oil and natural gas. Its tourism and conference sectors have also suffered.
The country, which sits just across the Persian Gulf from Iran, has portrayed itself as unfazed, even as it makes significant changes. It recently announced plans to build another pipeline to reduce its reliance on the strait, and it dropped out of the OPEC oil cartel so it can boost energy production longer-term, something that had been under consideration since before the war.
While the U.S. and Israel started the war, the UAE is firmly entangled. A drone attack Sunday on its Barakah nuclear power plant underlines the continued risks — even if a shaky ceasefire holds.
Because the Emirates boasts a large surplus of cash, the war’s economic disruptions so far do not appear to have caused major job losses or an exodus of foreign business.
The longer the standoff drags on and prevents business as usual in the Emirates, the greater the risk to its image that has been key to drawing international business and investment.
Emirati officials’ increasingly accuse Iran of piracy and even terrorism, while threatening to take military action. — AP
- May 19, 2026 13:07 U.K. unemployment rises as Mideast war hits jobs market
Britain’s unemployment rate edged up to 5% in the first quarter of 2026, official data showed on Tuesday (May 19, 2026), as the economic fallout from the West Asia war began to bite.
It was a slight increase from the 4.9% jobless rate seen in the three months to the end-February, the Office for National Statistics (ONS) said.
Economists had expected the rate to remain unchanged.
“The labour market remains soft, with vacancies at their lowest level in five years and unemployment higher than a year ago,” said Liz McKeown, director of economic statistics at the ONS.
Official figures last week showed that Britain’s economy expanded 0.6% in the first quarter.
“Today’s figures only capture the initial effects of the conflict, and the full impact will become more apparent in the coming months as higher costs and the potential for weaker consumer demand begin to filter through,” said Richard Carter, head of fixed interest research at wealth management firm Quilter Cheviot. — AFP
- May 19, 2026 10:55 West Asia conflict: Petrol, diesel prices hiked 90 paise per litre in second hike within a week in India
For the second time in a span of five days, prices of petrol and diesel were hiked again on Tuesday (May 19, 2026) by about 90 paise per litre across the country and across all variants.
With the latest hike, prices of the two retail fuels have increased about ₹3.90 per litre since Friday (May 15, 2026) when it was hiked ₹3 litre after a span of four years.
Petrol, diesel prices hiked 90 paise per litre in second hike within a week
Petrol and diesel prices increase by 90 paise per litre, marking the second hike in less than a week.
- May 19, 2026 10:46 Trump’s tough-talk foreign policy hitting wall with Iran as it grips Strait of Hormuz
President Donald Trump has considered himself an effective dealmaker above all else, but he appears to have hit a wall with Iran as his tough talk, threats and even military action have not moved Tehran from its long-established positions.
With shifting goals that make it difficult to judge the status of the U.S. effort, Mr. Trump and his top aides have insisted the United States has already won the war and that Iran is ready to reach an agreement in the wake of escalating US threats during a tenuous ceasefire.
But Mr. Trump once again backed down, saying on Monday (May 18, 2026) that he had put plans for an imminent resumption of attacks on hold at the request of Gulf Arab states because “serious negotiations are now taking place, and that, in their opinion, as Great Leaders and Allies, a Deal will be made, which will be very acceptable to the United States of America, as well as all Countries in the Middle East, and beyond”.
Although he said he had called off strikes planned for Tuesday (May 19, 2026), Mr. Trump kept up the bravado, saying he told military leaders “to be prepared to go forward with a full, large scale assault of Iran, on a moment’s notice, in the event that an acceptable deal is not reached”. Trump has repeatedly set deadlines for Tehran and then backed off.
Despite growing internal unrest, a crippled economy and the deaths of many of its leaders, there is no evidence Iran is set to meet Mr. Trump’s demands — many of which it has long rejected. In fact, it has dug in.
That has left Mr. Trump’s stated top objectives unrealised: Iran has yet to agree to abandon its nuclear programme or its ballistic missile development, or cease support for its proxies in the region, including those in Gaza, Iraq, Lebanon and Yemen.
The White House on Monday (May 18, 2026) defended the president’s approach, saying, “Trump’s preference is always peace and diplomacy” but he will only accept a deal that puts America first. — AP
- May 19, 2026 08:45 Asian markets cautious, oil dips after Trump holds off on Iran attack
Asian markets were mixed on Tuesday (May 19) as oil prices eased on hopes of a U.S.-Iran deal, though elevated crude levels capped investor appetite for risk.
Energy markets held centre stage after U.S. President Donald Trump signalled “serious negotiations” with Tehran and called off planned strikes. – AFP
Asian markets cautious, oil dips after Trump holds off on Iran attack
Asian markets show caution and oil prices dip as Trump signals potential U.S.-Iran negotiations amid ongoing geopolitical tensions.
- May 19, 2026 08:43 Diplomatic process continues through Pakistan despite the tensions: Iran
“In line with the recent practice of exchanging messages, Iran has also once again submitted its text in 14 points through the Pakistani mediator after making amendments,” an Iranian official said, according to the Tasnim news agency.
Tasnim quoted another Iranian official as saying that the U.S. has agreed to waive sanctions on Iran during the negotiation period. Iran has insisted that removal of all sanctions on the country should be part of a final agreement. “The United States has proposed a waiver of OFAC (Office of Foreign Assets Control) sanctions until a final understanding is reached,” the agency reported.
Iran submits new proposal, says U.S. open to sanctions relief
Iran proposes a new 14-point plan to the U.S., signaling potential sanctions relief amid ongoing diplomatic negotiations.
- May 19, 2026 08:40 Trump says delaying Iran attack at request of Gulf leaders
U.S. President Donald Trump said he was postponing a planned attack on Iran scheduled for Tuesday (May 19, 2026) at the request of Gulf leaders amid “serious negotiations” with Tehran.
Mr. Trump’s sudden announcement on social media on Monday (May 18, 2026) came after Iran said it had responded to a new U.S. proposal aimed at ending the war.
Trump says delaying Iran attack at request of Gulf leaders
Trump delays Iran attack at Gulf leaders’ request, emphasizing readiness for military action if negotiations fail.
Published – May 19, 2026 08:32 am IST
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